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Incorporating charitable giving into an estate plan

Many Kent area residents understand the importance of charitable giving. There are many local and national charities that people give to and find their values are aligned with the charity's mission. There are ways for a family to incorporate charitable giving into their estate plan.

For many people, an estate plan is a way to create a legacy for themselves. There are ways that a person can establish their legacy using their estate plan. Charitable giving is often included in an estate plan. It benefits families by allowing them to designate charities that are important to them and leaving a legacy for the younger generation. The first step of charitable giving is choosing charities that are meaningful to the giver. Once the charities have been chosen, it is then appropriate to decide how much those charities will receive. It is possible to donate money, artwork, securities, real estate, and other assets. After assets are chosen, a donor needs to figure out how the gifts will be made. Assets can be designated in a will or a charitable trust can be created.

A legal professional who specializes in estate planning can help a family incorporate charitable giving into their estate plan. Whether they need to create an estate plan or update an existing estate plan, there are many options in which a person can support favorite charities. Leaving money to a charity through an estate plan is a good way to establish a legacy and demonstrate how important charitable giving is to the younger generations.

Charitable giving can be a personally fulfilling action that also teaches younger generations how important it is to give to others. Incorporating philanthropy into an estate plan is common among many Kent area residents.

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