Charitable Giving
Our lawyers are experienced at crafting charitable-giving strategies that meet a wide range of needs for estate and tax planning, as well as assisting nonprofit organizations.
Central to our charitable-giving counsel is the understanding that every individual, family and charitable organization has its own unique concerns and objectives, and we reflect that in the advice we provide.
The charitable-giving instruments that we create as vehicles for tax minimization and financial planning reflect the full flexibility allowed by the tax code and include:
- charitable remainder trusts that offer a very flexible means to donate highly appreciated assets (particularly marketable securities) without incurring substantial capital gain or other tax penalties;
- charitable lead trusts that let donors claim current deductions for charitable transfers occurring in future years by receiving a deduction on assets placed in the trust when it is created, and repays it by annually paying taxes on trust income;
- family trusts and foundations that shelter annual contributions and provide effective estate planning vehicles; and
- donor-advised trusts and funds that receive contributions of cash or real property and then make gifts to other charitable organizations as advised by the donor.
For these and similar vehicles, our lawyers draft the trust instruments and represent beneficiaries and trustees on fiduciary and operational matters.
Another aspect of our charitable giving counsel is working with charitable and non-profit organizations as a facilitator of charitable donations. We often interface with clients seeking to make charitable contributions to local chapters of organizations, counseling on the estate and tax planning aspects for the giver while ensuring maximum benefit to the recipient charity. Such work with donors and donees enables us to develop creative giving solutions that meet a variety of needs.
