Selecting the right assets to give as well as the appropriate timing and gifting vehicles will maximize your charitable impact as well as provide you with the maximum financial benefits.

1. Congress has granted favorable tax treatment to individuals who choose to make charitable contributions to the charities of their choice-whether through current outright gifts, deferred gifts or bequests.   
2. "Giving while you're living"  Charitable gifts made during your lifetime provide an income tax deduction not available through a bequest gift.  
3. Giving assets is better than giving cash, especially long-term, highly appreciated assets.  
4. Planned giving provides powerful benefits. They provide significant income tax and estate tax benefits.  They also can provide a lifetime income stream as well as a significant remainder gift to charity.  
5. Assets such as pension plans generally provide better tax benefits in a testamentary gift.  If you are going to make a charitable bequest, it is usually better to transfer assets subject to income tax to charity and transfer non-taxable assets to heirs.

Prospective donors are advised to seek the advice of a tax professional before entering into any charitable planned gift.