In any comprehensive estate plan, a letter of instruction (LOI) is an important component. An…
Charitable Giving Tips
The holiday season is a busy time of year for charitable organizations to solicit support. As long as there are individuals in need or causes to support, there will be charities that are worthy of that support. But before you decide to help a charity, you should take the time to research the charity and understand its mission and objectives. The New York State Office of the Attorney General Charities Bureau has listed 10 tips to help guide someone who is considering charitable giving:
- Confirm That the Charity is Registered With the Attorney General’s Office
- Know Where Your Money Will Go
- Don’t Be Pressured by Telemarketers
- Ask for Written Materials
- Be Wary of Deceptive Tactics and Emotional Appeals
- Check With Your Local Law Enforcement Groups
- Never Give Cash
- Watch Out for Fake Invoices
- Don’t Disclose Personal Information
- You Have the Right to Say “No”
The bottom line – supporting charitable endeavors can be incredibly beneficial, provided the donations are used in the appropriate way. Speaking with a knowledgeable attorney and understanding the rules and limitations could help make the most of your charitable giving.
For more information about charitable giving, tune into CFN Live at 9 a.m., Tuesday, November 30, 2021 where Vincent J. Russo will be discussing the tax benefits of such giving.
Vincent is the show’s Legal Correspondent. In his segment, entitled “In the Legal Know,” Vincent will keep you abreast of the latest legal developments including elder law, special needs, and estate planning — all to help you make informed planning decisions to protect yourself, your loved ones, and your assets.
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