Law offices of Gerald L. Kane | A Life Care Planning & Elder Law Firm

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Help With Charitable Planning In California

If it is possible to donate to charities while helping your family avoid estate taxes. At Law Offices of Gerald L. Kane, our attorneys are here to help you with charitable trust planning.

Give to Others and Your Family

You can establish your foundation during your lifetime or it can be set up after you die. A small percentage of the trust’s assets would be distributed to charity each year. You can name whomever you wish to run the foundation, including your children, and the foundation can pay them a reasonable salary. You can be very specific about which charities you want to support or you can leave that up to the trustees of the foundation, in accordance with IRS guidelines.

We can tell you much more about charitable trust planning during your complimentary, no obligation initial consultation at our Encino law offices. We’ve served Los Angeles County and the San Fernando Valley with quality estate planning representation for more than 20 years.

Your Foundation’s Tax Benefits

As our knowledgeable estate planning lawyer will tell you, tax benefits of setting up your own foundation can be substantial. For one, you’ll be able to save on estate, capital gains, and income taxes.

Plus, the assets you give to the foundation will be removed from your taxable estate. If you give your entire estate to the foundation or the entire amount over the estate tax exemption, your estate will pay no estate taxes.

A third advantage is that there will be no capital gains tax when the assets are sold by the foundation. It’s a great situation for appreciated assets.

Finally, if you donate publicly traded securities to a private foundation, you can receive a charitable income tax deduction for their full fair market value, up to 30% of your adjusted gross income. The deduction is less than the 50% limit for standard charitable contributions because this is a private charitable foundation.

Plan Your Family’s Future Today

Don’t put off that necessary estate planning conversation any longer, especially when it pertains to charitable planning. Our caring, experienced estate planning team can help you and your family just as we’ve assisted so many satisfied clients throughout Encino and Los Angeles County for more than 20 years.

Contact Law Offices of Gerald L. Kane at 818-905-6088 to arrange your no obligation initial consultation. You’ll be glad you did, and your family will thank you for many years to come. We look forward to meeting you and helping you with an estate plan you can be proud of.

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