Society of 1925

Revocable vs. Irrevocable Gifts

The IRS provides important tax incentives to encourage support for charitable organizations. To qualify for any given tax benefit, a gift typically must be irrevocable. Stated another way, a gift must be complete and not one a donor could ‘reclaim’ in any way.

Clearly, an irrevocable gift only should be made after proper reflection and consultation with your legal and financial advisors. However, with proper planning, such gifts can provide important income and tax benefits for you and your heirs.

Examples of these gifts include Charitable Remainder Trusts and Charitable Lead Trusts.

Trinidad State can help you explore the benefits that may result from an irrevocable planned gift.