Most of us have a cause that touches our heart — a local shelter, a favorite university (maybe your alma mater), or a foundation that helped someone we love. Charitable planning gives you the chance to support those organizations long after you’re gone, turning today’s generosity into something that lasts.
When you include charitable giving in your estate plan, you’re doing more than giving money. You’re weaving your personal values into your financial decisions and shaping the way you’ll be remembered. Maybe you want to make a difference in your community, support education, or help fund research that changes lives. Whatever your goal, thoughtful planning makes sure your impact continues well into the future.
There are many ways to include charitable giving in an estate plan. The right choice depends on what you want to accomplish, the assets you have, and whether you’d like to see your giving in action during your lifetime. Some options are simple; others can also provide income or tax benefits for you and your loved ones. A few common strategies include:
Charitable Remainder Trusts (CRTs): This type of trust allows you to donate assets while keeping income from them for a period of time. When that time ends, the remaining assets go to charity.
Charitable Lead Trusts (CLTs): A CLT does the opposite — the charity receives income for a set time, and the rest goes to your family or other beneficiaries later.
Donor-Advised Funds (DAFs): Think of a DAF as a charitable account. You can put money in and choose which charities you want to support over time, without managing all the details yourself.
Bequests in a Will or Trust: One of the simplest ways to give is to include a gift to charity in your will or trust. You can leave a set amount, a percentage of your estate, or even specific items of value.
Beneficiary Designations: You can also name a charity as the beneficiary of a retirement account, life insurance policy, or bank account. It’s a quick, easy way to make a meaningful gift.
Charitable planning not only gives back to the causes you care about but can also bring peace of mind and a sense of purpose for you and your family — knowing that your values will continue to make a difference for years to come.
If you’re thinking about adding charitable giving to your estate plan, Meredith Law can help you explore your options and create a plan that reflects the legacy you want to leave behind. Call 832-246-8481 or fill out our contact form, and we will be in touch to schedule a time to meet at your convenience.