Philanthropic Planning
Planned giving techniques and charitable trusts not only provide support to our clients’ preferred charities but also deliver financial and estate planning benefits by minimizing taxes and transferring wealth. These strategies may range from providing simple lifetime gifts, charitable lead or remainder trusts or bequests to establishing private foundations that will involve family members for generations to come and leave an enduring legacy.
Our Charitable Giving Practice in the Trust & Estate Planning group combines the experience of our estate planning and tax attorneys to provide guidance in establishing a tailored philanthropic strategy that serves each client’s charitable mission.
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In 2024, total estimated charitable giving in the United States reached a total of $557.16 billion.
Source: Indiana University Lilly Family School of Philanthropy
Nearly half of all Americans (48%) plan to leave an inheritance, with 45% of those planning to leave it to only their children and 36% planning to leave it to both their children and their grandchildren. It is estimated that Baby Boomers and the Silent Generation will pass down a combined $84.4 trillion in assets through 2045, making it critical for younger generations to discuss transfer of wealth with their families – and help make sure they are prepared.
Source: Edward Jones