Planning For Charitable Giving
Planning For Charitable Giving
Giving a portion of our earnings to others is a major part of each of our lives. Whether tithing at church, supporting cancer research, wildlife conservation, or working to preserve our environment, we often give throughout our lives. Even buying season tickets at LSU requires a donation. Why would this stop when we die?
Nonprofit giving is part of the estate planning process. Nonprofits rely on a steady source of giving and your incapacitation or death can disrupt giving, especially for small local nonprofits that you support, like your church.
Many charities make asks for donations through your Will or Trust and you will need to communicate your wishes clearly since your executor or trustee cannot give away money unless directed to, no matter your giving history.
You should also consider giving instruction in your financial mandate (also called power of attorney in other states) to allow your agent to continue your giving during incapacitation.
When crafting your estate plan, ensure your wishes are carried out for charitable giving as well. Your estate planning attorney at Field Law can discuss ways for you to give during incapacitation and after your passing.
Contact Us For A Free Initial Consultation
Field Law is based in Baton Rouge, but we serve clients throughout Louisiana. We are also pleased to work with clients outside the state on matters related to Louisiana estate law and successions. To arrange a free consultation, call us at 225-341-5270, or get started.
