Arrange now to give later Many people also review their overall estate plans at the end of the year. Remember that those plans, too, can include a charitable dimension. You may be surprised to learn of the many ways to arrange meaningful gifts. When reviewing their wills or living trust people frequently include charitable dispositions. Retirement plans and life insurance policies offer convenient opportunities for giving as well.
Various plans exist that can help in supplementing retirement income and achieving other goals.
Giving Reminders Gifts made by December 31 are deductible in 1995 and can reduce taxes. Giving long-term, appreciated property rather than cash can bring you greater tax savings. Giving through long-range financial planning vehicles can be convenient and economical. Ask your professional advisor about the methods of giving most advantageous to you. The substantiation requirements are often met by letters of acknowledgment following your gift.