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Charitable Planning Lawyers in Nashville

Protecting Tennessee Families for Over 25 Years: (615) 933-2435

Nashville Estate Planning Lawyers

Charitable planning is generally used for those who have accumulated wealth that is subject to estate tax after death. The estate tax rates can be as high as 50%, and those who have worked hard to create and accumulate assets often opt to utilize charitable giving techniques to minimize taxation. In doing so, you can create a lasting legacy without depriving your family the benefit of your assets.


Charitable planning is also utilized to minimize income taxes (which can exceed 40%), and you can retain full control of your assets. In addition, it can be effective when selling your business.  When properly utilized, you can avoid paying income taxes on the sale of your business when sold.

 

Utilizing a charitable giving plan enables the donor to direct the use of his or her assets that would otherwise go to the IRS. Your assets can be passed to your family, charities, or the IRS, but you must choose two out of the three. Without creating a charitable giving plan, the IRS wins by default.


Discuss your specific situation by call our estate planning lawyers in Nashville at (615) 933-2435. 


Charitable Remainder Trusts vs. Charitable Lead Trusts

There are many ways to do charitable planning, including Charitable Remainder Trusts and Charitable Lead Trusts.


Charitable Remainder Trusts:

  • Transfer highly appreciated assets
  • Liquidate them with no tax consequence
  • Receive a charitable tax deduction against your current income
  • Still receive the benefits from your assets for the balance of your life
  • At death, the remainder goes to the charity of your choice.


Charitable Lead Trusts:

  • Provide income to a charity for a term of years, and at the end of the term, the remainder is paid to your family
  • A gift-discounting technique that permits you to gift $1 of assets to your family members and the IRS will view it as less than $1 (typically 30% – 60% less). This enables you to gift more than you otherwise would  be able to.


Other Charitable Strategies Tailored to Your Needs

Clients may find that other planning strategies may be better suited to their unique needs. These may include Private Family Foundations, Donor Advised Funds, or Special Funds as part of a Local Community Foundation.

Why Call Our Nashville Will Lawyers?

  • Backed by 65+ Years of Combined Experience
  • A Reputation for Client-Centered Service
  • Aggressive Advocacy in Thousands of Cases
  • Proven History of Results Since 1990

Discuss the options that will work to minimize taxation and create a lasting legacy.  Call our Nashville estate planning lawyers and the Gordon Law Group, PLC at (615) 933-2435 to determine which charitable strategy will work best for you.

Contact Gordon Law Group for Tailored Legal Solutions

Our Nashville family lawyers are passionate about achieving results for our clients. We want to help you through whatever you are facing and provide you with the resources and tools necessary to overcome any obstacles you face.


Contact Gordon Law Group at (615) 933-2435 today to schedule an initial consultation.

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Experienced Counsel

We possess over 65 years of experience in multiple fields of law

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Gordon Law Group

Nashville Office:

(615) 933-2435

49 Music Square West Suite 505  Nashville, TN  37203

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South Carolina Office:

(864) 920-2796

330 E. Coffee St.

Greenville, SC 29601

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Gordon Law Group

49 Music Square West, Nashville, Tennessee 37203, United States

Tel (615) 933-2435 Fax (615) 321-9099 info@gordonlawgroup.com

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