Giving to My Favorite Charity in Estate Plan
“Some people choose, upon their passing, to give their inheritance to a specific charity or organization. The great news is you don’t need a famous surname to give like a philanthropist.”
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“Some people choose, upon their passing, to give their inheritance to a specific charity or organization. The great news is you don’t need a famous surname to give like a philanthropist.”
“A love for nursing and a desire to help young people prompted a Norfolk man to include a nursing scholarship at Northeast Community College in his estate planning.”
“Eddie Van Halen was one of the most influential musicians of all time and made sure the next generation of artists have the resources necessary to further their musical education.”
“A charitable trust allows you to donate assets to a chosen tax-exempt charitable organization or nonprofit and comes with certain tax benefits to help you minimize what you might owe to the government.”
“Minnesota State University, Mankato President Edward Inch announced today that Robert Larson of Leesburg, Florida, has donated $1.4 million to the University in honor of his late wife, Virginia Larson, a Minnesota State Mankato alumna, who taught elementary school for 12 years.”
“For nearly 15 years, James Brown’s estate has been one of the most contentious legal cases in the entertainment industry, involving volleys of lawsuits among his children, his former romantic partner and its various administrators.”
“Old Sturbridge Village has received a $5 million gift from a former trustee and longtime supporter of the Massachusetts-based living history museum.”
“Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.”
“Marilyn Monroe’s estate makes millions every year. At the time of her death in 1962, the icon’s net worth was $10 million, when accounting for inflation. In 2020 alone, she made almost as much as that. But fans of the late star might be surprised to learn that it isn’t her many movies that make her estate the most money.”
“With the prospect of a Biden administration potentially raising tax rates and cutting estate tax exclusion amounts in half, some well-off taxpayers may be looking for a way to ease their burden, even while contributing to their favorite charities. A donor-advised fund may well be that opportunity.”
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