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If you have a property that you’re no longer using and would have to pay a large tax if you sold the property, you may find that donating that real estate to charity is a good option.

If you are still living in the property that you’d like to give away, you can set it up to become a charitable contribution by having the deed to your real estate transferred after your death. At that point, the value of the home will be taken out of your estate, lowering your estate taxes. You may also find a great tax benefit by donating real estate. In some cases, you may be eligible for a tax deduction equal to the fair market value of the real estate.

A cash gift is the simplest form of charitable giving. Your tax deduction is equal to the amount of cash you donated, minus the value of any goods or services you received in return.

A major advantage of giving your assets, such as retirement accounts and life insurance policies, to charity is that in addition to any charitable income tax deduction, your estate will not have to recognize that gifted income, which can give you a break on estate tax.

One of the most tax-efficient ways to give is by contributing long-term appreciated securities, like stocks. There are two huge advantages to donating in this way. One, since you are not selling your stocks, there are no capital gains taxes to be concerned with, and the more appreciation the stocks have, the bigger your tax savings will be.

The second advantage is that any of your stocks that were purchased over a year ago that have a current value greater than their original cost can be donated and become eligible for a tax deduction equal to the full fair market value of the stock, up to percentage of your adjusted gross income as defined by the IRS.

There are two types of charitable trusts you may be interested in making part of your financial plan – a charitable lead trust (CLT) and a charitable remainder trust (CRT). These can be useful tools in providing you with income now as well as

Many people choose to leave a gift to an organization in their will, often of a great amount than they could make in their lifetime. Over the years, bequests have formed the bedrock of many financially-sound universities, hospitals, and religious organizations. Such gifts can be a specific state dollar amount or a percentage of an estate.