CHARITABLE GIFTS

• Monday, November 16, 2020
• Category: Estate Planning and Estate Administration

1. Largest source of charitable giving is individuals—

1. $309.66 billion
2. 98.2% of HNW households give to charity
3. On average, HNW households gave 9.1% of their income to charity

• Why Do Individuals Give?

1. Studies on Charitable Giving

• Psychological—giving causes happiness
• Social—signaling one’s wealth or status
• Economic—tax breaks

REF: Justin T. Miller, J.D LLM. Chartable Tax Planning in the time of COVID-19, September, 2020

Kindly visit our Estate Planning or Estate Tax Planning website or contact one of our Estate Planning Attorneys, Philadelphia or Estate Attorneys, Philadelphia for more information on this topic.