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Charitable Giving

You reached the summit and relish in the accomplishment of retiring in a comfortable financial state that will get you down the mountain safely and help your beneficiaries. As you consider the legacy you will leave in your estate planning process, you may consider donating your assets to a charitable organization or a cause that has positively impacted your life. Although many people have desires to leave a charitable legacy that involves their loved ones, the execution is often lacking.

Tax efficiency, simplicity and flexibility make naming a charitable organization a great starting point for those interested in leaving a charitable legacy. Boulay offers practical strategies and services designed to help you effectively implement your charitable giving plan, meets your legacy goals and provides tax benefits for you and your heirs.

How we help you get there

You may choose to designate a charitable organization as the beneficiary of your IRA or retirement plan, such as a 401(k) or 403(b). This giving option is tax-deductible and ensures that the charity will not have to pay income tax on the money received.

Wills can be amended to incorporate charitable bequests. The will can designate a charitable gift of a specific dollar amount, a percentage of an estate or a combination of the two. It can designate specific charities or types of charities. The amendment to the will can be very simple or it can be quite complex depending on what you’re trying to accomplish.

Charitable trusts can be established to “lock in” certain economic benefits and tax savings. Charitable Remainder Trusts provide an income stream for a predetermined length of time and a remainder gift to charity. A Charitable Lead Trust provides an income stream to a charity. The remainder typically goes to designated family members.

Boulay’s charitable giving experience provides you the peace of mind knowing that your legacy will be carried through successfully during your lifetime and leaves a guiding hand for future generations.


Does your charitable giving plan meet your legacy goals?

Get a Review of your Charitable Giving Plan

Boulay’s advisors can help you effectively implement your charitable giving plan. Let us take care of the complex portion of the planning so you can enjoy the feeling of knowing you’re helping others on their journey.

 

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