Charitable Planning

Charitable Planning encompasses a broad range of planning techniques and methods centered around a donors desire to make a lasting impact through charitable giving, whether during lifetime or at death. With respect to many charitable gifts, a donor has already made a decision to make or is giving some thought to making a charitable gift to one or more organizations that the donor feels called to support.

By properly structuring the gift through the use of certain charitable planning techniques one can maximize the benefit to both the charity and the donor (or the donors family). Gifts to charity represent a replacement of social capital. In other words, the charities providing services for the public good relieve the government of having to provide those services to the public at the cost of taxpayer dollars. Generally speaking therefore, our laws are written in such a way that some tax benefits are provided to a donor making a charitable gift because that donor is funding privately a social service through the supported charity. However, charitable giving and the tax laws do not always go hand-in-hand.

Fortunately the purpose behind most donors charitable gifts is simply to do something good for society and not simply obtain a deduction or personal benefit. Nevertheless, it is possible to receive multiple benefits if the charitable gift is structured properly. In order to do so, it requires an extensive knowledge of all tax laws (income taxes, transfer taxes and excise taxes to name a few). At Salvatori, Wood, Buckel, Carmichael & Lottes we believe that charitable planning can be a vital part of a clients overall estate plan if desired. In many cases, by working closely with a client to develop thoughtful and directed charitable planned gifts, the client finds that he or she can make a much greater impact than originally anticipated while meeting their specific intentions.


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