Clients are often interested in making gifts to charities. Philanthropic planning is the use of advanced estate planning techniques to get more out of the charitable giving you wish to do. By committing to a future charitable gift now, you can create additional value for your charities and secure immediate tax benefits.
At the The Pollock Firm LLC, we help individuals and families achieve their charitable planning goals, including the formation and administration of charitable trusts and private foundations. Additionally, we effectively coordinate our clients’ Wills, IRAs, and retirement accounts to take advantage of maximum income, estate and gift tax exemptions when making charitable contributions.
Our Philanthropic Planning services consist of:
- Estate Planning – A successful philanthropic plan must be coordinated with your overall estate plan to ensure that your assets will go where you wish them to go and that you designate appropriate charities to carry out your desires. A philanthropic plan may also involve Planned Gifting of business interests, highly appreciated assets, and artwork to trusts or private foundations.
- Tax Planning – Minimization of state taxes and federal taxes, including capital gains taxes, federal income taxes, state income taxes, federal estate taxes, state estate taxes, and state inheritance taxes is imperative when creating any philanthropic plan.
- Business Formations – Creation of private and public charities as well as non-profits.
- Trust Planning – Creation of Charitable Lead Trusts and Charitable Remainder Trusts
- Advising clients on the appropriateness of contributing to charitable annuities or funds.