Ready for some more good news? Not only is charitable giving a great way to give back to and improve the communities in which we live, it often makes good financial sense, too

Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations.  Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune.  Many of the institutions of art, sciences and education are supported in large part by those who want to give something back in appreciation for their contributions to the community or the individuals themselves.

Presently, the tax code offers incentives for gifting of one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.

Often times, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies.  By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate.  Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.

Should I Establish a Trust? 

Holding your assets in a Trust may be a great way of improving your financial, retirement or legacy plan. At Chartwell, we’ll help you navigate the world of trusts and alternative ways of holding your assets – but only if it makes sense for your situation.

Living Trusts, Charitable Trusts and even Special Need Trusts are just some of the tools people just like you have adopted in their financial plan. Of course, it gets right back to listening carefully to you and understanding your situation. Only then can Chartwell – or any other professional entity – recommend a trust or similar strategy.