713-429-0218

sandy@ardlawfirm.com

4211 Video Street Dickinson,Texas 77539

Charitable Planning

Estate Planning Law Firm • Serving Dickinson, Galveston, Lake Jackson, and the Surrounding Houston, Texas Areas


What is charitable giving?

Charitable gift planning can be a simple process. For example, you can write a check, hand over cash, transfer stock or sign a quit-claim deed to real estate directly to the charity of your choosing. On the other hand, there are more involved strategies whereby you can give and receive depending on your unique circumstances.

How do I make a more substantial charitable gift?

If you intend to make a charitable donation of some size before or after you pass away, you should speak with an estate planning attorney at Ard Law Firm, PLLC, who is experienced with investments, property, tax, and all manner of charitable transfers. Sandra Ard can ensure that your gift transfer is set up properly — both from tax and philanthropic perspectives.

Planned gifts can provide significant tax benefits and also even lifetime income for you and your family. Sandra Ard will explain charitable giving options that allow you to integrate your own values into your giving, as well as into your financial goals. These options may include charitable trusts and charitable gift annuities.

In addition, many people make planned gifts as testamentary bequests to charities in their wills or revocable living trusts. Life insurance is a common means to leverage charitable giving.

What are the benefits of charitable giving?

Planned gifts provide opportunities to make charitable gifts that may allow you to: (i) provide inheritances for heirs, while decreasing their tax liability; (ii) lower your taxes on your ordinary income through charitable deductions and/or avoiding capital gains taxes on your appreciated assets; and (iii) create a charitable legacy for future generations. There are many additional benefits to charitable planning beyond this brief overview, so contact your attorney to explore your options.

What are a few ways I can give?

A Life Income Gift. This approach provides a future source of income for the charity while also providing a tax deduction and current income payments to you and your family. This gift can be flexible with fixed, variable, or deferred payments.

Bequests and Retirement Plans. You can name your charity as a beneficiary of your will or revocable living trust — or name the charity as a beneficiary of a retirement plan, such as an IRA, 401(k), 403(b), or other retirement fund. This can be a win-win, especially when it comes to retirement plan assets. There are no income or estate taxes on any retirement plan assets left directly to a charity.

Charitable Lead Trusts. This trust can be used to leverage the eventual transfer of appreciating assets to family members in light of current and future estate and gift tax consequences. Essentially, this approach provides immediate support to your charity through fixed payments for a specified period of time. At the end of the term, the trust will revert to your loved ones by transferring all of its remaining assets to them with reduced or no estate and gift tax.

Retained Life Estate. You can generate a current income tax deduction by giving real estate (e.g., a home or farm) to your charity, but still retain the right to use the property during your lifetime.

Again, these are just a few (of many available) planned giving strategies you can use to make your gift. Charitable giving is a great way to support your favorite non-profit interests. Even better, planned giving can help you make sizeable gifts that can benefit both charity and your family.

Sandra Ard can explore these and additional strategies with you, depending on your unique circumstances.


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Taking Steps to Preserve Your Legacy

Estate Planning

Estate Planning

A properly drafted estate plan will replace the terms of the State's estate plan with your own.

Elder Law

Elder Law

Elder law is another aspect of estate planning, focusing primarily on the needs of families and individuals as they age.

Medicaid

Medicaid

Medicaid, is a joint federal-state program, subject to certain federal requirements, each state implements its own regulations on how the program is managed.

Probate

Probate

When probate avoidance planning has not been implemented prior to death, the state will require a probate court proceeding if the deceased was a resident or owned assets in the state.

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Attorney Sandy Ard, of the Ard Law Firm, PLLC, provides clients with comprehensive Estate Planning, Medicaid Planning, Veterans Benefits Planning, Wills, Trusts, Living Trusts, Pet Trusts, Special Needs Planning, Asset Protection, Elder Law, Farm Trusts and Non-citizen Spouse Estate Planning, Probate & Estate Administration, Business Succession, and Family Business Planning, in Houston, Texas and the following areas including but not limited to: Houston, Galveston, Lake Jackson, Dickinson, League City, Texas City, Webster, Seabrook, Santa Fe, Texas; and their respective surrounding areas in Harris County, Chambers County, Brazoria County, and Galveston County, Texas.

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