There are several types of charitable trusts that can be implemented based on your objectives, including charitable lead trusts and charitable remainder trusts. Both types of trusts benefit charitable beneficiaries and offer tax mitigation opportunities, but function a bit differently. The right trust for you depends on your individual goals and objectives.

One strategy to consider if you own appreciated stock and wish to support a favorite cause is to gift your appreciated securities (held for more than a year) to a nonprofit organization. This strategy can mitigate capital gains tax on the future sale of the securities and potentially give you an income tax charitable deduction for the full market value of the gift. 

Private & family foundations are grantmaking entities that provide a way to foster a family’s values and can provide a focus not only for annual charitable giving, but also for a family’s charitable giving overall. They can also create an endowment to fund future giving, while offering income, estate, and gift tax advantages.