Your very first step should be to contact your lawyer. Within a will, a bequest can be of a stated dollar amount, specific property, or a certain percentage of the residuary estate. The gift can be given immediately, held in trust, or made contingent upon specified conditions. One advantage of making a charitable gift through your will is an estate tax deduction when the gift is paid. Trusts Another giving option is the charitable remainder trust, which provides immediate benefits for you and your beneficiaries.
Charitable trusts can be in the form on an annuity or a unitrust.
Such trusts can have substantial financial and income tax benefits while giving you the personal satisfaction of supporting organizations important to you during your lifetime. A pooled income fund is a donation and investment. The participants in the pooled fund receive a proportionate share of the income that is earned. When a participant dies, the money that he or she put in the fund passes to the American Tinnitus Association. The advantages of this gift are current income tax deduction allowed for future gift.