Whether your goal is to give to charity, bequeath your estate to heirs, or both, doing so without a well-considered plan can significantly limit the reach and impact of your efforts.
A charitable remainder trust can be a tax-savvy means of charitable gifting that also provides investment diversification and a long-term income stream.
A charitable lead trust can be a tax-savvy means of charitable gifting that also serves to pass wealth to future generations.
These three maneuvers will tend to deliver a higher tax benefit than writing a check and deducting it, and may even improve your portfolio.
A donor-advised fund can be an efficient, simple, and flexible way to give to charity while enjoying the tax benefits and avoiding the cost and administrative burden often associated with private foundations.