Charitable Giving – Shift Focus From Estate Tax to Income Tax Planning

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel

Charitable giving is, once again, on the rise. It dipped sharply during the recent recession; however, in the last couple of years, individual giving has increased in both current and inflation-adjusted dollars. We’re still not back to pre-recession levels, but the trend in charitable giving has been and continues to be positive. (Source: National Center for Charitable Statistics)

For estate planning professionals and their clients, it’s an appropriate time to revisit charitable giving with a view toward identifying new opportunities and assessing how a charitable giving plan works within the broader estate planning strategy.

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