Charitable Giving in Your Estate Plan

Strategic Philanthropy That Benefits You & Your Chosen Causes

Many people choose to give to charities to support meaningful causes, provide financial resources to organizations they believe in, and receive estate and tax planning benefits.

Whether you wish to make a one-time donation or create a structured plan for ongoing giving, The Walls Law Group can help you develop a strategy that aligns with your personal and financial goals.

Working closely with your financial team, we help craft charitable giving strategies that maximize both your legacy and the benefits to your chosen organizations.

Ways to Give Through Estate Planning

There are multiple ways to structure charitable contributions within your estate plan. Each method provides unique benefits depending on your financial goals and tax considerations.

Charitable Trusts

A charitable trust allows you to provide financial support to a charity while retaining certain benefits during your lifetime. There are two common types:

  • Charitable Remainder Trust (CRT) – This irrevocable trust allows you to transfer assets, such as real estate or stocks, into the trust, sell them tax-free, and receive an income stream for a set period. After the term ends, the remaining assets go to your chosen charity.

  • Charitable Lead Trust (CLT) – This trust provides income to a charity for a specified time. Once the term ends, the remaining assets transfer to your chosen beneficiaries, often at a reduced tax rate.

Close-up of the word 'TRUST' on the U.S. dollar bill

Gift Annuities

A gift annuity is a contract between you and a charitable organization. You donate cash, stocks, or other assets, and in return, you receive fixed payments for life. Upon your passing, the remaining assets go to the charity.

Private Foundations

For those who wish to retain control over charitable contributions, a private foundation may be an option. This entity allows you to establish an organization that distributes donations to causes of your choosing while providing potential tax benefits.

Donor-Advised Funds (DAFs)

A donor-advised fund allows you to deposit funds into an account managed by a sponsoring nonprofit organization. You receive an immediate tax deduction and can recommend how the funds are distributed over time to qualifying charities.

Outright Gifts to Charity

A lump-sum donation provides immediate benefits to a charity and allows you to take an income tax deduction in the year of the donation. Additionally, the assets are removed from your taxable estate.

The Benefits of Charitable Giving in Estate Planning

  • Supports causes that matter to you

  • May reduce estate and income taxes

  • Creates a lasting legacy

  • Ensures assets are distributed according to your wishes

By structuring charitable gifts effectively, you can maximize the impact of your giving while protecting your estate and financial interests.

Two women exchanging food and recyclables; one holds a plate of food, the other holds a bag of plastic bottles, against a pink wall background.
A man with a bell stands in front of a Salvation Army sign and red donation kettle.
Modern conference room with a large oval table, brown leather chairs, a potted plant centerpiece, abstract wall art, and glass partitions.

Incorporate Charitable Giving Into Your Estate Plan

If you want to explore charitable giving strategies as part of your estate plan, The Walls Law Group is here to help.

Let’s design a plan that benefits both your family and the causes you care about.