The Altruistic After-Life Plan
The calendar for March shows several different holidays ranging from Purim, a Jewish holiday, to Earth Day, International Women's Day, and Palm Sunday, a holiday observed by Christians. With all of these religious and environmental and social rights holidays right around the corner, let's discuss altruistic options for after-life planning. Did you know upon your death you can leave your assets and estate to a charity or church? If in life, you were passionate about the conservation of Humpback Whales, you can leave something to a valid organization that specializes in the protection of the whales once you've died. You also have the option of leaving your assets to your church and making them the beneficiary to your trust. If you are someone who will not be leaving behind any living relatives, but does possess ardent beliefs this could be a great choice for you. It's selfless and you can go in peace, knowing that even in death, you will be making an impact for the greater good of all.
You can choose any number of charitable organizations to be on the receiving end of your final donation. You can either arrange for the charity to inherit a lump sum outright or you can outline a plan in which your decided upon charity or charities gets set yearly amounts indefinitely or for a period of years. Not only does this provide a good cause with the means to make a difference, gifts to charities are exempt from federal wealth transfer taxes, and income taxes. Once you've decided upon a charitable organization or religious group that means a lot to you, all there is left to do is have your estate written by a lawyer who will see to it that your final wishes are carried out. Layman, D'Atri and Associates, LLC can also help guide you to choose the most tax efficient assets to fund your charitable gift. At the time of your death, everything will then go to your local women's shelter, for example, or the synagogue you attended weekly your entire life. There is something so sentimental about leaving an inheritance to an organization that you believed in while you were alive, and the monetary donation is of great benefit, but the confidence in the cause is really just as impactful.
This compassionate after-life plan does not only apply to those who are survived by no one. You can split your assets up between your spouse and children and also leave something to philanthropy. In this way, you not only provide for your family, but you also see to it that one of your final actions in life is helping others. The money you leave behind may be what spurs on a new children's wing at the hospital or you may be aiding in the protection of a certain endangered species. You will have left behind a meaningful legacy for your family, but also the world as a whole. As humans, our goal should be to leave this world in better conditions than it was when we entered it, and through the expertise of Layman D'Atri and Associates, you can be a part of something bigger. Whether you want to assist in saving the rainforest, providing battered women with clothing and shelter, or sending aid to victims of war-torn countries, your decision is important and significant. This law firm is passionate about your goals, we share your
optimism for a better world, and we want to be a helpful guide in your quest to give back. If you are considering allocating any of your assets to charity, please call Layman D'Atri and Associates, LLC at 330-493-8833, and we can work together on the betterment of the world. May this month bring you many blessings no matter how you celebrate its days.