Charitable Giving Strategies

The Sundvick Legacy Center encourages and assists the tradition of giving to charitable causes. In addition to the many personal rewards inherent in making a charitable gift, most gifts also provide a current charitable income tax deduction. However, some also can save capital gains taxes, increase income, and provide you, or whomever you designate, with an income for life. Additionally, these types of gifts may provide an estate tax deduction — an important consideration in planning your estate.

If given the choice between paying taxes (involuntary philanthropy), or making a charitable gift (voluntary philanthropy), most people would choose the latter, because it gives them the benefit of knowing who the money will benefit and how it will be used. The same cannot be said for money paid to the U.S. Treasury. We help clients make their charitable gifts impact the community and practice good stewardship in the most tax-efficient manner.

There are many different ways to make charitable gifts:

• A charitable remainder trust or a charitable gift annuity will give you an immediate income tax deduction, a lifetime stream of income, and a waiver of capital gains taxes owed on contributed property.
• A charitable lead trust creates an income stream to charity for a term of years with the remainder of the trust going to your children without any estate or gift tax consequences.
• A donor advised fund allows you to maximize your income tax savings on your regular monthly or weekly contributions to church or charities.
• A private foundation offers you the complete freedom to control amounts given by placing restrictions on how your gifts are used by charities.

---

At the Las Vegas, NV Law Firm of Sundvick Legacy Center, Attorney Lizette Sundvick represents clients throughout Southern Nevada, including Henderson, Aliante, Boulder City, North Las Vegas, Mesquite, Pahrump, Summerlin, Southern Highlands, Green Valley, Laughlin, Clark County, Nye County and Lincoln County. Please feel free to contact the firm if you or a family member is in need of legal assistance with Estate Planning, Trusts, Wills, Powers of Attorney, Probate, Estate Tax Planning, Business Planning, Asset Protection, Elder Law, Special Needs Planning or Guardianship matters.

Follow Us Online

Sign Up For Our Free Estate Planning E-newsletter