When is the right time to make charitable donations?

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Abstract: Is it better to make charitable gifts during one’s lifetime, or charitable bequests after death? It can depend on a variety of factors, such as marital status, income and estate tax considerations, one’s degree of certainty about future financial needs, or whether a foreign charitable organization is an intended beneficiary. Giving to charities can be an excellent decision, but it’s important to consult a tax, legal or accounting professional to explore the ins and outs of making lifetime gifts and charitable bequests.