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Estate planning options for philanthropists

On Behalf of | Sep 30, 2017 | Firm News, Wills |

Various options are available for people who want to be involved in what happens with their assets before and after they die. Some people create trusts to define how their family members spend their money. Others divide their assets between loved ones and the charities they support during their lifetime. Ohio residents who value charitable giving may benefit from working with professionals to set up a plan that saves them money while also helping them achieve their goals.

There are tax advantages to leaving money to charity that could help both the recipient and surviving family members get more out of the assets left behind as long as a detailed plan is in place. An attorney who focuses on estate planning may help clients put their wishes in writing so their heirs will not be left with the burden of probate issues that might make allocating the assets more challenging.

People who have been active with certain charities may wish to communicate with them about their decision to leave a legacy with their organization. The organization may offer some valuable input about the best way to put the money to use.

There are quite a few estate planning options available today. An experienced attorney can help clients explore their goals and determine how they would like to allocate their assets while they are alive as well as after they die. Instead of relying on wills and leaving family members to ensure assets are given to the appropriate charities, an attorney could help clients put all of their wishes into writing so they are sure they will be followed.

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