The estate planning covers the process of accumulating, managing and distributing property over the course of a lifetime.
Many of us would like to make significant gifts to further causes in which we believe. But, of necessity, our own economic security must come first. To further that desire, you may wish to consider making charitable gifts from assets that remain when you no longer need them. This might be accomplished through a bequest in your will, a remainder interest in a revocable living trust, a beneficiary designation of life insurance or retirement plan proceeds, or a number of other convenient vehicles.
Some people are also surprised to learn that through effective estate planning, it can be possible to make charitable gifts that can help alleviate non-charitable financial concerns. Charitable gift planning techniques can provide management of assets for you and other loved ones. You may provide for management of assets while providing a fixed or variable income for yourself and others for lifetime or a period of years. At the end of the specified time period, the assets are put to charitable use. A variety of such plans exists.
Under current economic conditions, it is more important than ever that everyone have an effective estate and financial plan. Through carefully balancing your needs and those of loved ones and favorite charitable interests, you may find that you can create surprising benefits for all concerned.
Additional information about effective estate planning is available upon request. Contact