"Put not your trust in money, but put your money in trust."
Oliver Wendell Holmes, Sr.

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Charities and Foundations

There are several ways that a person may leave wealth to charity, including the following:

Charitable giving can accomplish helping a worthy cause and serving non-monetary family interests as well. Consider the following example.

An elderly women’s spouse had died of lung cancer. She wanted to donate some of her wealth to fighting cancer.  She also wanted to involve her children in charitable giving.   Maurice Kassimir & Associates, P.C. discovered that the woman had about $2 million in an IRA account, which would have been subject to approximately 80 percent taxation upon her death.  Instead, the money in the IRA was left to a private foundation created for the benefit of the American Cancer Society that was not subject to income or estate tax.    The woman was able to optimize the impact of her charitable giving, and create a vehicle for her children to be involved in the fight against cancer.

Contact the attorneys at Maurice Kassimir & Associates, P.C., for creative advice that helps you meet your estate planning goals, and allows you to maximize the impact of your charitable giving.

Plan Today, Save Tomorrow

If you are looking for the very best legal advice in estate and succession planning, or estate and trust administration, contact the law firm of Maurice Kassimir & Associates, P.C.

(212) 944-1377

Providing sophisticated estate planning to insure the accumulation, preservation and transfer of wealth for clients in the New York Metro area.

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