Many Delaware residents have giving hearts, and they want to keep giving for as long as possible. Charitable donations often make individuals feel good and also benefit other people. Fortunately, philanthropists do not have to stop giving even as their lives come to an end as estate planning can help the contributions continue.
When it comes to charitable giving, one of the first steps is to decide what organization or organizations to contribute to. People can review their past contributions to determine where they might want to continue giving. Even if individuals have not made charitable donations in the past, they can explore new avenues. In the latter case, considering causes and desires to improve the future may help determine choices.
Another step in the giving process would involve deciding what assets to donate. Some people choose to donate cash, and others may have certain physical assets, like artwork, that they may want to give to specific organizations. Of course, it is important to know what assets charities will accept before designating that property for specific charitable giving. Additionally, parties can choose whether to donate the assets immediately or set up a fund to distribute assets over time.
Charitable giving is a worthy cause, and estate planning can help interested Delaware residents keep their legacies and giving alive. Parties may want to explore the various options available for setting up this type of arrangement. Consulting with experienced estate planning attorneys can help individuals further explore this option and determine whether it is something they want to include in their plans.
