Sadly, more than 55% of Americans die each year without a will; and while it’s understandable why the subject of death is not one people like to contemplate, if they actually knew what happens to their estate when they die “intestate” (without a will), they might reconsider their reluctance.
Donations to charities are a win-win when it comes to filing taxes. You can feel good about helping a cause you care about as well as write off the donations to “qualified organizations” on your taxes at totals up to “50 percent of your adjusted gross income,” according to the Internal Revenue Service.
Most people of conscience, especially those who have done well for themselves, want to use their resources to do some good in the world.
A home is a place to rest your head, to create memories, and to cook dinner. It’s where your pets are—your family. What people most often forget about their home is that it’s also your most valuable financial asset. And, if one of your financial goals includes a testamentary gift to charity, while also receiving substantive income tax deductions, this asset is important.