Woodland Hills Charitable Planning Attorney

Helping California clients help others

Many clients want to incorporate gifts to charity, religious institutions, or schools in their estate plan.  If you do not have the funds to donate as much as you might want during your lifetime to your favorite organizations, you may still be able to provide for such gifts in your estate plan.   Lifetime gifts and gifts at death do not need to be mutually exclusive.  Our firm is honored to assist those who want to craft a legacy with a gift of any size, during lifetime or at death. It is a true pleasure to help individuals and families give back to the community in a meaningful way at a meaningful time. The Law Offices of Yacoba Ann Feldman can help you find ways to donate to the organizations that inspire you. Our firm has over 35 years of experience helping clients develop comprehensive estate plans that include charitable foundations and institutions. If you need to discuss this matter with an experienced attorney, contact our firm to discuss your legal matter.

Our charitable planning services

There are several tools to help clients fulfill their charitable planning wishes, including lifetime gifts, beneficiary designations on death, bequests in wills or trusts, and lifetime gifts in trusts.  Life insurance policies and retirement plan accounts are frequently overlooked sources of funds for charitable gifts.

Life insurance policies can be used for lifetime gifts or bequests on death as another way to provide for a charity or non-profit organization of your choice. The gift of a life insurance policy can be a gift of the policy itself or of all or portion of proceeds on death by way of a beneficiary designation.  Whatever option is best for you, we will help you incorporate charitable giving into your estate plan. When deciding on these matters, it is important to consult with an attorney that can guide you through your best options.

Retirement plans have unique tax attributes which may make the funds in some plans more attractive for gifts to charities than other assets in the estate.  Qualified charities do not pay income tax on gifts from retirement accounts in the same manner as would individual beneficiaries.  Also, if you are 70 ½ or older and are considering lifetime gifts, there may be specific tax provisions that you may want to review when deciding on what source of funds to use for those gifts.

Other common examples of trusts which benefit charities include:

  • Charitable lead trusts: Over time, portions of the trust assets get paid out to charities. After a specific amount of time, what is left goes to your beneficiaries; tax-free or with significant tax savings.
  • Charitable remainder trusts: After the trust is established, an income stream goes back to the creator of the trust or to another designated beneficiary. Then, on death, the remaining assets go to charity

Contact The Law Offices of Yacoba Ann Feldman

Our firm appreciates the thought that goes into planning an estate to include charitable foundations and organizations. Throughout our years of service, we have helped countless families give back to the community through their estate. With over 35 years of experience, our firm has significant knowledge of estate law and we are ready to guide you through your options as you work to provide support to those who help others. To find out how to incorporate your charitable giving plans into your estate plan, contact The Law Offices of Yacoba Ann Feldman for a consultation.