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PEN-Powered Activity Guide
Where is the money going?
Do your due diligence and make sure the money is actually being used the way you thought it would. Look for a reputable charity and find out if its mission matches what it's doing.
How much of your donations is going to events that you believe in?
You may be surprised to learn that in a lot of charities a large portion of their donor funds go to administration rather than the cause. See if you have a say in how your donation is being spent.
What Do You Want to Donate?
Review your assets. Make sure you aren’t giving up funds you may need later, especially if you’re considering donating irrevocable trust assets. Cash isn’t always king! Giving cash may not be the most efficient asset to donate. Perhaps you have life insurance that you no longer need or highly appreciated stock that has a hefty tax bill should you realize the gain. Consider your tax liabilities with the assets you plan to donate. Make sure you aren’t giving up funds you may need later, especially if you’re considering donating irrevocable trust assets. Can you direct the use of your donation? You may be able to direct your donation to certain causes within the charity such as research, education, or financial assistance, for example: Review their acceptance policies and procedures before gifting to make sure your funds won’t be restricted or unable to be accepted. Certain donations are complicated to turn into cash, such as real estate. What's Valuable: Remember, just because it's valuable to you, but it may not be for charity. In fact, it may not be easy to liquidate or manage and may cost more to handle than its fair market value. Seek Financial Assistance: Make sure you work with a reputable estate attorney or a financial planner when considering what and how to make your donation.
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