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Charitable
Planning

Utilizing a charitable giving plan enables the donor to direct the use of his or her assets. 

Charitable Planning

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Charitable giving techniques are typically used for those who have accumulated wealth that is subject to estate tax at death. The estate tax rates are as high as 50% and those who have worked hard to create and accumulate assets will opt to utilize charitable giving techniques to minimize taxation while creating a lasting legacy without necessarily depriving family from benefitting from your assets. Charitable planning is also utilized to minimize income taxes (which can exceed 40%), and you can retain full control of your assets.

Charitable planning can also be effective when selling your business. When properly utilized, you can avoid paying income taxes on the sale of your business when sold.

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Utilizing a charitable giving plan enables the donor to direct the use of his or her assets that would otherwise go to the IRS. Your assets can pass to your family, charities, or the IRS, but you must choose two out of the three. If you don't, the IRS wins by default.

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There are many ways to do charitable planning, including Charitable Remainder Trusts and Charitable Lead Trusts.

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Charitable Remainder Trusts enable you to:

• Transfer highly appreciated assets,

• Liquidate them with no tax consequence,

• Receive a charitable tax deduction against your current income, and 

• Still receive the benefits from your assets for the balance of your life.

 

At death, the remainder goes to the charity of your choice.

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Charitable Lead Trusts:

  • Provide income to a charity for a term of years, and at the end of the term, the remainder is paid to your family.
     

  • A Charitable Lead Trust is primarily a gift-discounting technique that permits you to gift $1

    of assets to your family members, and the IRS will view it as less than $1 (typically 30% -

    60% less). This enables you to gift more than you otherwise would be able to.
     

  • Other charitable strategies include:

    o Private Family Foundations.
    o Donor-Advised Funds.
    o Special Funds as part of a Local Community Foundation.

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Mitchell Lansky

Imagine eliminating the worry and stress of money, wills, and care! Imagine your family celebrating your life without worry or confusion.

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We have navigated this system successfully for 30 years.

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Mitchell comes from a long line of Memphians dedicated to serving people. In addition to a Law Degree, Mitchell has a Masters in Tax Law and is a member of Lawyers with Purpose - a group that specializes in Estate Planning.

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With 30 years of experience in this field, Mitchell's mind and passion are aligned for details and problem-solving.

If you believe

your estate should be protected
and your assets secured,

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Depending on where you are in life, Estate Planning could include some, or all of the following:
  • Durable Power of Attorney
  • Medical Power of Attorney
  • Last Wills & Testaments
  • Living Trusts
  • Advanced Care Directives
  • Probate Assets
  • Asset Jurisdiction
It's not right to continue ignoring the need to plan.
Your family shouldn't have to figure this out after you're gone.

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