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Gifting and Charitable Giving

There are many motivations for a person’s charitable giving as there are people. Giving your resources and time to help others is one of the most personal acts you can make. Most giving stories are unique, but they likely share one or more of the following motivations: compassion for those in need, religious and spiritual commitment, perpetuation of one’s beliefs, values and ideals; support for the arts, sciences and education; a desire to share one’s good fortune with others. Whatever the reasons, the U.S. tax law is designed to encourage these gifts. Some prefer to make outright gifts of cash or other valuable assets to their favorite charities and other individuals wait until they die to transfer assets to a charity through a will or trust.

Trends in Charitable Giving

Some people may want a more advanced gifting strategy that can maximize their gift and generate potential tax benefits.