Drafting a Charitable Trust with a Las Vegas Attorney
Charitable giving is a wonderful way to give back to your community and to extend your legacy after death. It is also an excellent way to reduce income and estate taxes for the trustmaker, providing tax savings. A substantial gift to a charity, charitable trust, or foundation can reduce the taxes that the rest of your estate is subjected to when you die.
Reducing Taxes and Building Legacies
At the Law Offices of David A. Straus, our Las Vegas lawyer helps clients control exactly where and how their estates will be distributed and transferred when they die. We also help them avoid probate through the use of trusts, which we draft personally for each of our clients. The establishment of a charitable trust can have many benefits, including:
- Making use of a charitable remainder trust or lead trust is about reducing estate taxes and income taxes
- Establishing a nonprofit organization or a family foundation allows you to build upon a family legacy and to support sustainable giving for years and decades to come
Choosing Where Your Estate Assets Will Go
In estate planning, you will choose between three sets of beneficiaries:
- Friends and family members
- Charities or foundations of your choice
- The Internal Revenue Service (IRS)
You will pick two. Most people choose the first two. In some cases, every U.S. citizen becomes a philanthropist at death, either giving voluntarily to a charity or foundation through a trust or to the government, which will do with as it pleases.
We can help you control and direct how your estate and social capital will be distributed to the fullest extent possible to maximize its potential. Drafting a customized charitable trust with an attorney who works in estate planning will help you make use of all effective techniques that are available to you, and will allow you to build upon your own legacy as well as your family’s legacy.
Call the Law Offices of David A. Straus to Schedule a Complimentary Initial Consultation
Our attorney has over twenty-five years of estate planning experience in Nevada and has a Master of Laws degree (LL.M.) in Taxation and in Entertainment and Media law. Please email or call us in Las Vegas at 702-474-4500 to schedule a meeting and to discover how a charitable trust can benefit your estate plan.