Heritage Law

Charitable Planning Attorney Nebraska and Iowa: Secure Your Legacy

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At Heritage Law, our charitable planning attorney serving Nebraska and Iowa is here to help you navigate the complexities of charitable trusts and estate planning.

Whether you want to support a charitable cause, minimize estate taxes, or create a lasting impact on your community, we provide personalized legal assistance to meet your goals.

What Is a Charitable Trust?

A charitable trust allows you to allocate assets for both charitable causes and your beneficiaries. You can establish a charitable trust during your lifetime or through your will.

This type of trust offers significant tax benefits while ensuring that the charities you support receive ongoing financial help. The trust can be structured in various ways, with two main types: charitable lead trusts and charitable remainder trusts.

Why Create a Charitable Trust?

Creating a charitable trust offers more than just financial benefits. It’s an opportunity to leave a lasting legacy by supporting causes that matter to you, whether that’s alleviating poverty, improving education, supporting religious institutions, or promoting youth development. Additionally, charitable trusts provide tax incentives such as avoiding capital gains taxes on appreciated assets, reducing estate taxes, and offering income tax deductions.

Charitable Lead Trust: How It Works

A charitable lead trust is an irrevocable trust designed to provide financial support to one or more charities for a set period. During this time, the chosen charity receives income from the trust’s assets. After the trust term ends, the remaining assets pass to non-charitable beneficiaries, such as your family, who may benefit from reduced gift and estate taxes.

With a charitable lead trust, you retain control over how long the trust lasts and which charities benefit, while also securing tax advantages for your estate. Our charitable planning attorney for Nebraska and Iowa can help structure this trust to ensure it aligns with your philanthropic and financial goals.

Advantages of a Charitable Lead Trust

Estate and gift tax deductions: Trust payments made to charities reduce the overall taxable value of your estate.
Capital gains tax avoidance: Asset appreciation within the trust isn’t subject to capital gains tax.
Income tax deductions: In some cases, non-grantor trusts are eligible for income tax deductions.
Professional management: Once the assets are transferred, the charity manages the trust, investing and growing the assets on your behalf.

We work one on one with you directly to ensure your family estate planning process is completed from start to finish.

We ensure the future plan we put in place makes the most financial sense for your property and your family long term.

We take our time to explore all available options as we strive for excellence. We work hard so you don't have to.

Charitable Remainder Trust: Maximizing Your Impact

A charitable remainder trust is another type of irrevocable trust that allows you to transfer assets, receive income during your lifetime, and ultimately donate the remaining assets to a charity.

This type of trust provides income to you (or another non-charitable beneficiary) for a specific time, after which the charity receives the remaining assets. It’s a valuable tool for reducing taxable income and securing long-term philanthropic goals.

Charitable Remainder Trust: How It Works

When you transfer appreciated assets into a charitable remainder trust, the trustee sells those assets without triggering capital gains tax, reinvesting the proceeds to generate income. You can choose between a charitable remainder unitrust, which provides a fluctuating income based on the trust’s value, or a charitable remainder annuity trust, which guarantees a fixed annual income.

Unitrust: Offers income based on the annual value of the trust, making it suitable if you want to benefit from market growth.
Annuity Trust: Provides stable, fixed income, ideal for those who prefer financial certainty.

Benefits of Charitable Remainder Trusts

Tax savings: Immediate income tax deductions and estate tax reductions.
Income stream: Secure an income during your lifetime or for a designated period.
Avoid capital gains: Selling appreciated assets within the trust avoids capital gains tax, maximizing the value of the assets.
Legacy of giving: Support the causes you care about long after you’re gone.

We are here to help you. Please contact Heritage Law and start planning for the future today.

Is a Charitable Trust Right for You?

Charitable trusts are powerful estate planning tools that allow you to reduce taxes, provide for loved ones, and support charitable organizations. However, they are irrevocable, meaning once assets are transferred, the decision cannot be reversed.

Our charitable planning attorney in Nebraska and Iowa will work with you to determine whether a charitable trust is the best option for your estate and charitable goals.

Contact a Charitable Planning Attorney in Nebraska and Iowa

At Heritage Law, we specialize in creating customized estate plans, including charitable trusts, to help you achieve your goals.

Whether you are looking to minimize taxes, create a lasting impact, or ensure your estate is managed according to your wishes, our charitable planning attorney serving Nebraska and Iowa is ready to assist.

Contact us today at 1 402 915 1039 to schedule your free consultation and start planning for the future.