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Doing good with your estate plan

| Sep 25, 2020 | Estate Planning |

A huge part of creating an estate plan is leaving a legacy that reflects who you are. You have a unique opportunity to leave a positive footprint on the world.

Your estate plan can be a snapshot of the things that are important to you. This can be supporting your loved ones and making sure they are taken care of, but it can also be strengthening causes that you are passionate about.

Philanthropic giving

Charitable giving is a great way to support causes that are important to you. If there is an organization or cause that has impacted your life, or that you feel passionate about, consider incorporating them into your estate plan. Your lawyer will help you include the financial or physical assets that you wish to give.

You may be able to make a direct donation to the organization of your choice or you can create a charitable trust or private foundation dedicated to the cause. Not only do these options help you give, they can also minimize potential taxes on your philanthropy.

Care for the environment

If you feel particularly passionate about the environment, there are ways that you can contribute to the cause other than charitable giving. You can easily incorporate a green burial into your estate plan. This process includes using non-toxic and biodegradable materials that will allow your burial to have minimal impact on the environment.

As you consider your estate plan, talk to your attorney about incorporating what matters most to you, whatever that may be.