Another important aspect of estate planning is using that plan creates a legacy by benefiting charitable organizations and educational institutions.
High wealth clients can reap significant tax benefits from setting up charitable lead trusts or charitable remainder trusts, but even a revocable living trust can include beneficiary designations to ensure that trusts assets can be used to benefit those non-profit organizations of your choosing.
Here is a list of charitable organizations to consider as potential beneficiaries to your estate plan:
- American Cancer Society.
- American Diabetes Association.
- American Red Cross.
- Autism Speaks.
- Scouting USA.
- Doctors Without Borders.
- Girl Scouts USA.
- Guide Dog Foundation for the Blind.
- Make a Wish Foundation of America
- Wildlife Conservation Society.
- Wilson Disease Association.
In addition, the American Institute of Philanthropy provides information about charitable organizations.
Remember that an estate plan is not simply a “piece of paper.” It’s peace of mind. There is no better time than today to help secure your family’s financial future with a comprehensive estate plan.
For more information or to get started on this important life project, visit www.ArborEstatePlanning.com or contact me at Chris@ArborLegal.com or 734-827-9450. I’ll help you plan ahead.