Font Size:

• A
• A
• A
• A

Charitable Planning

Making the Most of Your Charitable Giving in Kansas
and Missouri

Contact The Law Offices of
Kyle E. Krull, P.A.

---

Message:

Enter Security Code:

We encourage and assist the tradition of giving to charitable causes. In addition to the many personal rewards inherent in making a charitable gift, most gifts also provide a current charitable income tax deduction. However, some also can save capital gains taxes, increase income, and provide you, or whomever you designate, with an income for life. Additionally, these types of gifts may provide an estate tax deduction -- an important consideration in planning your estate.

If given the choice between paying taxes (involuntary philanthropy), or making a charitable gift (voluntary philanthropy), most people would choose the latter, because it gives them the benefit of knowing who the money will benefit and how it will be used. The same cannot be said for money paid to the U.S. Treasury. We help clients make charitable gifts and practice good stewardship in the most tax-efficient manner.

There are many different ways to make charitable gifts:

• A charitable remainder trust or a charitable gift annuity will give you an immediate income tax deduction, a lifetime stream of income, and a waiver of capital gains taxes owed on contributed property.
• A charitable lead trust creates an income stream to charity for a term of years with the remainder of the trust going to your children (or other designated beneficiaries) without any estate or gift tax consequences.
• A private foundation offers you the considerable freedom to control amounts given by placing restrictions on how your gifts are used by charities.
• A donor-advised fund allows you to maximize your income tax savings on your regular annual, monthly or weekly contributions to church or charities.

This has been a very general overview of a very complex subject matter. If there are causes or organizations you would like to support, while also maximizing your tax-saving strategies, please contact us to explore your options.

Overland Park Estate Planning Attorney Kyle Krull assists clients in Kansas and Missouri with Estate Planning, Wills, Trusts, Revocable Living Trusts, Charitable Planning, Probate and Estate Administration, Asset Protection and Business Succession Planning in the greater Kansas City area including Overland Park, Leawood, Olathe, Lenexa, Johnson County Kansas and Jackson County Missouri.

Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.

Remember: The choice of an attorney is an important decision and should not be based solely upon advertisements.