Switch to ADA Accessible Theme
Close Menu
MacDonald, Lee & Senechalle, Ltd.
Get In Touch Today!
847-310-0025 Hoffman Estates
847-298-5030 Des Plaines
Email Us
Make A

Planned Giving

Let’s face it, we all want to make a difference. And as uncomfortable as we may be with the thought, our time to make a difference is finite. Many of us are creating a legacy for future generations, either by giving to our favorite charity or by operating a not for profit organization. Planned giving can be another effective way of creating, or expanding, our legacies.

Planned giving can take a number of forms, and what is best depends on your personal financial situation and plan for the future. A simple gift in your will or as a contingent remainder gift may fit with your plans. Charitable lead and charitable remainder trusts are another way to provide for your family’s immediate needs while building a legacy for their future.

More sophisticated vehicles are also available that offer tax advantages. For example, you can gift appreciated assets to a not for profit organization and avoid capital gains taxes while obtaining the benefit of the full value as a tax deduction. Your favorite not for profit organization can be named as beneficiary on tax affected investments like IRA and 401K accounts so that the funds pass without taxation; while substituting other tax free assets, like life insurance, for your heirs. You can also make your favorite not for profit organization the beneficiary of a bank account, brokerage account or life insurance policy or donate a policy to the not for profit organization rather than cancelling it, when those funds are no longer required to secure the financial security of your family.

MacDonald, Lee & Senechalle can assist you with your charitable gifting plans, whether you want to make a gift or establish a planned giving program for your not for profit organization. If you would like more information on planned giving, contact the Hoffman Estates Estate Planning Attorney, for additional resources

Contact Us Now

To complete your submission please check this box and then hit submit.