As we enter the season of giving, recent findings by the Generosity Commission have shed light on a concerning trend. While charitable dollars are rising, the number of donors and volunteers continues to decline. This shift raises essential questions about the future of philanthropy and our role in fostering a robust and interconnected society. Tax ..read more

As individuals begin taking Required Minimum Distributions from their retirement accounts, many seek ways to use their financial resources efficiently while giving back to causes they care about. Qualified Charitable Distributions allow one to meet Required Minimum Distribution requirements while supporting charitable organizations tax-efficiently. Donating directly from an IRA means individuals aged 70½ or older ..read more

For millions of Americans, charitable giving is a deeply personal way to support their communities and the causes they care about. Whether donating to local religious, educational, social, or cultural organizations, giving back offers a sense of fulfillment. When integrated into a comprehensive estate plan, it can provide significant tax benefits for donors and their ..read more

For many families, philanthropy is a way to make a lasting impact on society and a powerful estate planning tool that can protect and preserve wealth. While charitable giving is often viewed through the lens of generosity, it can also be an essential component of a well-rounded wealth management strategy. Strategic philanthropy allows families to ..read more

Incorporating philanthropy into estate planning is a powerful way for families to preserve their legacy while reinforcing core family values. Engaging heirs in charitable endeavors allows families to make a meaningful impact on society and cultivate responsibility and unity within the family. By fostering the next generation’s involvement in philanthropy, families ensure that their legacy ..read more

Life is full of transitions, from exciting new beginnings to unexpected challenges. Whether you’re adjusting to relocating to a new state, celebrating the arrival of new family members, or a spousal separation, these changes often bring about financial considerations that require careful planning. When protecting your wealth and securing your family’s future, your estate plan ..read more

Many business owners focus so intently on their companies’ daily demands that they delay planning for the eventual transition of leadership. However, without a well-structured succession plan, an unexpected event—such as illness, disability, or death—can leave both your business and family in a vulnerable position. Proper planning safeguards your business’s future while preserving family harmony ..read more

Spousal Lifetime Access Trusts: A Sophisticated Tool for Wealth Protection and Estate Planning ..read more

The 2024 election is just around the corner, and with it comes a range of policy proposals that could significantly impact the markets. At Legacy Private Trust Company, we’re closely monitoring these developments to help you stay informed. Below, we provide a brief overview of what our investment team discussed in our recent Election Update ..read more

For families managing significant wealth, safeguarding assets for future generations while minimizing tax liabilities is paramount. A powerful tool to achieve this is the Generation-Skipping Trust (GST), which allows families to pass wealth to grandchildren or younger beneficiaries, bypassing intermediate generations and reducing the tax burden. Leveraging the 2024 GST Tax Exemption The 2024 federal ..read more