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Charitable Planning in Rocklin, CA


At Placer Law Group, APC, 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. Some charitable giving strategies also 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.

Making the Most of Your Charitable Giving in California

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 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 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.

Elise Baker is an estate planning attorney located in Rocklin, California. She focuses her practice on Estate Wills & Trusts, Probate Avoidance Strategies, Probate & Trust Administration, Same-Sex/Couples & Non-Traditional Families, Planning for LGBT's, Planning for Minors & Children, and Guardianships. She also helps individuals and families with Revocable Living Trusts, Powers of Attorney, Health Care Directives, Conservatorships, Document Reviews, Charitable Planning and Gifting, Special Needs Planning, Estate Tax Planning, and Small/Family Business Succession. Elise has offices in Rocklin, California, but she also serves clients in Roseville and Lincoln, and many other cities surrounding Rocklin and Sacramento.

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Placer Law Group, APC | (916) 632-1930 | info@PlacerLaw.net
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