Charitable Giving
Create a Legacy through Giving
Our clients turn to us when they want to create legacy plans to benefit the non-profit organizations most important to them. Many of our clients want to see their capital allocated to social causes that improve the collective well-being of their communities, specifically in Tampa. That can mean directing gifts to Tampa arts organizations, hospitals, universities, youth programs, animal rescues, or local donor-advised funds, using estate planning strategies that preserve flexibility during life while still providing a meaningful, long-term stream of support after death. Advanced estate planning strategies like Charitable Lead Trusts (CLTs) are particularly effective in the current environment, often used alongside Irrevocable Life Insurance Trusts (ILITs), Grantor Retained Annuity Trusts (GRATs), and family limited partnerships to manage estate tax exposure and transfer wealth efficiently to the next generation, allowing you to lock in today’s higher exemption amounts while providing income to your chosen charitable fund for a set period before remaining assets pass to family members. Our team can help you allocate funds to the causes of your choice and show you strategies that can work to lower your overall tax burden, such as integrating charitable trusts, beneficiary designations, and qualified charitable distributions from retirement accounts into your estate planning strategies, while coordinating with your CPA and estate planning attorney to align income tax planning, gift tax strategies, and portfolio management under a cohesive financial plan so that your giving is both tax-efficient and aligned with your family’s long-term goals..
Over the course of our lives, we all develop different views of the world. In many cases, we choose to give back to the great institutions of art, sciences, government, and education that gave us so much throughout our lifetime. Given the approaching changes to federal estate tax exemptions in 2026, now is an ideal time to act—whether you’re a business owner, real estate investor, or professional in the Tampa Bay area—to implement estate planning strategies that lock in current exemption levels and ensure your legacy reflects your values. Whatever it is, we’ll help you give something back to the communities that helped you to flourish, guiding you through a clear step‑by‑step process that starts with clarifying your values and charitable priorities, then reviewing your current will, trusts, and beneficiary designations to identify where strategic charitable planning can maximize impact, using tools like net worth statements, account titling reviews, and asset allocation reports prepared by our CERTIFIED FINANCIAL PLANNER™ professional to ensure every account and policy supports your legacy objectives while preserving financial security for your loved ones..
Presently, the tax code offers incentives for gifting one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.
Oftentimes, an individual will designate a charBecause we live and work here in Tampa Bay, our estate planning attorneys are deeply familiar with how local families support institutions like Tampa General Hospital on Davis Islands, the University of South Florida near Fowler Avenue, and cultural anchors along the Tampa Riverwalk. We frequently help clients in neighborhoods such as Hyde Park, Davis Islands, and Carrollwood structure charitable bequests and trusts that reflect the character of these communities. Recent engagements have included advising a South Tampa business owner on funding a charitable remainder trust after selling property along Bayshore Boulevard, and assisting a Westchase family in coordinating donor-advised fund gifts with the Community Foundation Tampa Bay. That local perspective helps ensure your charitable planning is tailored not just to federal and Florida law, but also to the specific organizations and neighborhoods that define your Tampa legacy.itable beneficiary in their will to benefit the organization after the individual dies. This simple step can be a foundation of your estate planning strategies, and for many Tampa residents it is the starting point for more advanced planning that may also include trusts, life insurance, or retirement accounts earmarked for charity. With the federal estate tax exemption set to decrease significantly in 2026, even modest estates may benefit from proactive estate planning strategies that incorporate charitable giving to reduce taxable value and ensure your legacy intentions are honored. By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate. Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined, and our role is to explain these estate planning strategies in plain language so you know how they affect your cash flow, your taxes, and the legacy you leave to your heirs and the Tampa organizations you care about. As estate tax exemptions sunset in 2026, the decisions you make today about charitable giving and trust structures will have lasting implications for both your family’s financial security and your philanthropic impact..
Charitable Remainder Trust
A remainder trust enables the donor to transfer an asset while retaining the right to the income it generates. In practice, this estate planning strategy can be especially useful for appreciated assets like stocks, rental property, or a closely held business interest, allowing you to spread income over time and potentially reduce capital gains exposure while ultimately providing a substantial charitable gift. For Tampa residents with significant estates, implementing remainder trust strategies before 2026 can help lock in current exemption levels and ensure maximum wealth transfer to both family members and charitable causes. The asset becomes the “remainder” which is owned by the charity. Remainder trusts, if properly structured, can qualify for a current tax deduction. There are three types of remainder trusts:
Unitrust: A unitrust the income the donor receives is based on a percentage of the current fair market valuation of a trust asset. Each year, as the asset is valued, the income is adjusted based on the new valuation.
Annuity Trust: Instead of a percentage of the asset value, the donor is paid a fixed amount annually. This charitable remainder annuity trust strategy can provide predictable, pension‑like income, which many Tampa families appreciate when budgeting for retirement, healthcare, and other long‑term expenses while still reserving a meaningful gift for charity at the end of the trust term.
Pooled Income Fund: Donors can pool their donated assets in a fund that is operated by a charitable organization. The donors then receive a proportionate share of income from the fund that is paid throughout their lifetime. Payments can vary each year based on the valuation of the underlying assets in the fund.
Charitable Lead Trust
Also known as an Income Trust this vehicle transfers the income rights to the charitable organization. In a charitable lead trust, the charity receives payments first for a set number of years, and then the remaining trust assets can pass to your children or other beneficiaries, making this an attractive estate planning strategy for Tampa families who want to reduce potential estate taxes while front‑loading support for their favorite causes. Generally, the income rights are assigned for a specified period of time after which the remainder passes to the donor.
Charitable planning involves tax issues that should be discussed with a qualified tax professional.
LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial, giving you access to professional trustees, trust administration, and coordinated advice so your charitable and estate planning strategies are implemented correctly and monitored over time as your life, family, and Tampa’s legal and tax landscape evolve..
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