Estate Planning Red Flag – You haven’t discussed planned gifts with the charities that will receive them
Abstract: It’s a good idea to discuss any planned gifts with charities before finalizing plans. This is particularly important for donations that place restrictions on the charity’s use of the gift, as well as donations of real estate or other illiquid assets. Many charities are reluctant to accept gifts of such assets, since they may expose the organization to liability or require an investment in order to convert the assets into operating funds. This article notes that there are options to enable donations while minimizing risks to the charity.