The actor Larry Hagman passed away recently and he will be missed. Most people remember Hagman as the individual who played the part of J.R. Ewing on the Dallas television series.
He did however make his mark originally in the situation comedy I Dream of Jeannie that was on the air during the latter portion of the 1960s.
Larry Hagman was a man who believed in charitable giving. As we all know doing what we can to make the world a better place is personally rewarding, but you can also gain some tax benefits in many instances.
One way to give is through the creation of a charitable foundation. Larry Hagman created the Larry Hagman Foundation, and it is dedicated to providing educational opportunities in the area of the creative arts to Dallas children who come from families with financial need.
As an actor Hagman obviously valued the creative arts, but each one of us has certain passions. People often choose to support things that are personally significant to them when they create a foundation or otherwise set aside funds for the benefit of charitable causes.
Another option that exists if you don’t want to start a private foundation would be to contribute resources into a donor advised fund.
The administrative costs are low because many different people contribute into the fund and the expenses are shared. The infrastructure is already in place, and your accounting is simplified because you are interacting with just one entity.
Charitable giving can be a meaningful part of your legacy, and we invite you to get in touch with us arrange for a free consultation if you would like to explore your options in detail. We can be reached electronically through this link: Free Estate Planning Consultation