How to make the most of charitable giving, family support, and estate planning this season
November always seems to bring a natural pause — a time to take stock of what we’ve built and who we’ve shared it with. For many people in or approaching retirement, this is also when the idea of legacy starts to take deeper shape.
Legacy isn’t just about what we leave behind — it’s about how we use our time, experience, and resources right now to make an impact. And that impact can take many forms: supporting a cause, helping family, or simply making sure your estate plans are in good order so your wishes are carried out smoothly.
With the end of the year approaching — and the season of giving in full swing — it’s the perfect time to revisit your plan and think about how generosity fits into your financial life.
Giving Strategically: More Than Good Intentions
Charitable giving in retirement can be deeply rewarding, but it’s also worth approaching with strategy. Once you’re living on fixed income streams or required distributions, every dollar should work efficiently for both your goals and your tax situation.
For example, if you’re 70½ or older and have an IRA, you may be eligible to make a Qualified Charitable Distribution (QCD) — a direct transfer from your IRA to a qualified charity. Because the funds never touch your hands, they’re excluded from your taxable income and can even count toward your Required Minimum Distribution once you turn 73.
That means you can fulfill your charitable goals and reduce your taxable income at the same time — a win-win for retirees who value both generosity and fiscal prudence.
Even smaller acts of giving can have big ripple effects. Whether it’s supporting a local organization or setting up recurring donations to a cause close to your heart, a little planning helps your giving go further.
Revisit Your Estate and Beneficiaries
The end of the year is also a good checkpoint for reviewing your estate plan. Many people are surprised by how often their beneficiary designations are outdated — especially if there’s been a marriage, divorce, or new grandchild since their last update.
A simple review of your IRA and life insurance beneficiaries, will, and health care directives can save your family confusion or unnecessary costs later on. If you’ve already done this in years past, think of it as a quick chart check before the next leg of your retirement journey — a chance to ensure everything still reflects your current wishes.
Donor-Advised Funds: A Flexible Approach to Giving
For those who like to give with purpose but want more control, a donor-advised fund can be an elegant solution. You can make a contribution now — even in a high-income year — and decide later which charities will receive the funds.
It’s a simple way to create a more structured giving plan over time, especially if you’d like your family to continue your charitable priorities in the future. Many retirees appreciate that donor-advised funds offer both flexibility and legacy — the ability to give intentionally, without the administrative burden of a private foundation.
Supporting Family — and Seeing Your Legacy in Action
Not all giving involves charitable donations. Many retirees find joy in helping family members directly — whether it’s contributing to a grandchild’s education, helping with a first home, or gifting funds for meaningful life experiences.
Current tax law allows individuals to give up to $18,000 per person in 2025 without triggering gift taxes (or $36,000 for couples). But beyond the technical limits, the real value is being able to see your generosity make a difference while you’re here to enjoy it.
As always, it’s wise to coordinate gifts with your income plan. A well-designed strategy can help you support loved ones while maintaining the financial independence you’ve worked so hard to achieve.
Aligning Your Legacy with What Matters Most
Ultimately, legacy is about connection — aligning your resources with your values. Financial planning plays a key role, but so does intention.
If your goal is to ensure your loved ones are cared for and your charitable impact endures, the most important step is to bring those wishes into focus and revisit them regularly. A year-end conversation with your advisor can help confirm that your estate plan, income strategy, and charitable goals are all moving in the same direction.
Because the most lasting legacies aren’t just financial — they’re the ones built on purpose, gratitude, and care.
Next Steps
If you’d like to make the most of your charitable or legacy planning opportunities before year-end, our team can help you explore tax-savvy strategies that align with your values and financial goals.
Investment advisory products and services made available through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. Insurance products are offered through the insurance business Rowlette and Associates, LLC DBA South Shore Retirement Services (RA/SSRS). RA/SSRS is also an Investment Advisory practice that offers products and services through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. AEWM does not offer insurance products. The insurance products offered by RA/SSRS are not subject to Investment Advisor requirements. 3466418 – 11/25
