Cape Cod Wealth Strategies
& Insurance Services, LLC

CONNECT

Address:

16 Forsythe Ave
South Yarmouth, MA  02664

Phone:

(508) 776-1168

Fax/Other:

508-619-3170

Charitable Legacy Planning on Cape Cod

In 2016, Americans donated an estimated record-breaking $390 billion to charity according to Giving USA. There's no better feeling than the one we get when we give back to the community we live in or that raised us. For those who want to make a lasting impact on their community, one of the best ways to do so is by establishing a charitable legacy plan.

What Is Charitable Giving?

Charitable giving is an opportunity to continue your philanthropic beliefs after you are gone and can be worked into part of your estate planning strategy. With the help of our financial planning company on Cape Cod, we can help you set up a charitable legacy plan. It's important to have a financial advisor help you with this decision process so that your donations make the biggest impact by maximizing tax benefits and the amount donated.

Types Of Charitable Giving Plans to Choose From

There are a few routes you can take when it comes to charitable giving, including:

  • Direct Gifts. These gifts are made directly from you to the charitable organization or non-profit you choose. These are cash-based gifts and are usually deductible from your income taxes.
  • Charitable Gift Annuities. Not to be confused with annuities provided by insurance companies, a charitable gift annuity allows the donor to give money, real estate, or securities throughout their lifetime. In return, the donor receives a fixed income from the organization. Upon the donor's death, any leftover assets are donated to the charity.
  • Pooled-Income Funds. Have friends or family members that share the same passion for the community as you do? If so, a pooled-income fund may be your best option. Pooled-income funds are combined contributions made from multiple donors to a single charitable organization. These donations are then invested by the charity and the donors receive in return a source of income and tax benefits.
  • Gifts In Trust. In the event of death of disability, a gift in trust allows the donor to donate assets to a charity of their choosing as well as other beneficiaries such as family members or next of kin. There are two options for gifts in trust: Charitable remainder trusts and charitable lead trusts -- both of which can be explained in further detail by our Cape Cod financial planners in order to determine which option works best for you.
  • Donor-Advised Funds. Also known as a DAF, this type of charitable giving allows donors to make contributions to a charity of their choice and in turn receive immediate tax benefits. As a donor, you can also recommend grants to charities from this fund over time.

Why Choose Cape Cod Wealth For Charitable Legacy Planning

Whether you are choosing to continue your philanthropic goals after you are gone or you are looking to support a good cause, charitable legacy planning is a great option for those hoping to make a lasting positive impression. Cape Cod Wealth Strategies & Insurance Services, LLC is here to help ensure that your charitable giving plan takes full advantage of any available tax benefits while ensuring your chosen amount of funds is given to the organization of your choosing. Our financial planners on Cape Cod will keep an organized financial portfolio tracking your donation amounts and we will help you navigate through the necessary paperwork when it comes time to write your contributions off on your taxes. Want to keep your donations local? There are dozens of local charities on the Cape to which you can donate funds. Contact us today and let us help you give back to the community by providing you with professional charitable legacy planning services.

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Check the background of this financial professional on FINRA's BrokerCheck