Kansas City Estate Planning Attorneys
Charitable giving allows you to have a lasting impact on society, contributing to ongoing causes of great importance. Effective gifting strategies can reduce estate taxes, allowing an individual to contribute to causes that are personally important rather than contributing involuntarily to the government.
If you have questions about charitable gifting strategies, the attorneys of Humphrey, Farrington & McClain can effectively serve you. From offices in Independence, Missouri, we represent clients throughout the greater Kansas City Metropolitan area.
Contact our offices today to schedule a confidential consultation with an experienced estate planning lawyer regarding your charitable gifting strategies.
The Value of Effective Charitable Gifting Strategies
Using a charitable remainder trust, you can transfer assets to a trust, receive the interest the assets generate during your lifetime and ultimately donate the principle assets to a charitable organization. With a charitable lead trust, you can support a charity for a limited amount of time and simultaneously protect the long-term interests and assets of your family. Other charitable gifting strategies
These strategies have several benefits. With a charitable remainder trust or charitable lead trust, you can diversify your assets and secure the benefits of this diversification without being subject to capital gains taxes. These assets are then eligible for a tax deduction, thereby reducing the size of your taxable estate.
Additionally, by planning ahead and preparing charitable gifting strategies, you can ensure that you contribute to charitable causes and organizations you support. These gifts allow you to have a lasting impact on charitable organizations and society more broadly. Effective planning can reduce the likelihood of probate and trust litigation and infighting among potential heirs and beneficiaries.
At Humphrey, Farrington & McClain, our lawyers take the time to listen to your concerns, and help you prepare effective estate planning documents to address your particular concerns. We provide personalized legal services, tailored to meet your individual needs and reach your ultimate goals.
Contact us today to schedule a confidential consultation with one of our experienced attorneys.