Charitable giving is something that many people feel is important. Not only is it important to give during life, but many people want to keep on giving after death. Including a charity in your estate plan can accomplish this philanthropic goal; however, be sure to include the right charity in your plan. With over one million public charities alone in the United States, it can be difficult to find the right one. Try taking the following three steps to find the right match for you and your estate plan.
- Check your community first. Often, the best place to give is where you live. Not only can you see what your gift does, but you can also provide hands-on support as well if you choose.
- Search for your perfect charity on sites like charitywatch.org and Charity Navigator. These sites provide objective information, data, and statistics about thousands of charities. You can find out a charity’s mission, its financial strength and even how much of your donation actually goes to support the intended beneficiaries.
- Make sure that you will receive all the tax benefits of charitable giving by making sure your chosen charity is recognized by the IRS. You can do this by checking Exempt Organization Select Check.
After following these three steps, you should be ready to pick a charity to include in your estate plan. Next, you will need to sit down with your estate planning attorney and decide how best to incorporate the charity into your plan.
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