If you feel you are comfortably situated, a condition you need to examine carefully, you might, especially in later years take a look at gifting either as a way of moving assets out of your estate to charities or to pass some of your wealth on to your children before you die. As with any decision there can be positives and negatives. Here are some ideas to help you decide. Charitable gifting during lifetime can be a satisfying way to benefit organizations and causes you support and see them in action. Family members may have specific needs.
There is no one size fits all when it comes to giving. Get legal and professional help if you need it.
Esquire, Colliton Law Associates, P.C. Janet Colliton has practiced law for over 38 years, 37 of them in Chester County, Pennsylvania, a suburb of Philadelphia. Her practice, Colliton Law Associates, PC, is limited to elder law, Medicaid, including advice, applications and appeals, and other benefits planning including Veterans benefits, life care and special needs planning, guardianships, retirement, and estate planning and administration.