Quick Notes: Charitable Bequests and Estate Planning.

A quick tidbit on charitable bequests as a form of charitable giving...

You can donate various kinds of property including cash, stocks, real estate and life insurance to name a few when you pass away.

A charitable bequest is cash or property donated at your death to a 501(c)(3) tax-exempt organization. You can make such a charitable bequest through a Will, Trust or beneficiary designation.

There are no contribution limits with this type of charitable giving.

For example, you can set up a Living Trust to give a portion of your estate to your loved ones and the remainder to be divided among the charities you would like to support.

Charitable giving after you pass away can reduce the size of your estate and lower the estate tax liability. See this Congressional Budget Office pamphlet on Charitable Giving for more information.