Estate Planning Strategies for Linda Thompson

Linda Thompson, a 55-year-old widow, has recently inherited a fortune from her late husband, totaling $5 million. She has two adult children, ages 28 and 30, both of whom are financially independent. Linda wishes to ensure that her estate is structured in a way that minimizes tax implications and supports her charitable intentions.

She plans to leave 50% of her estate to a charitable foundation focused on education and the remaining 50% to her children. As part of her estate planning process, she has approached her financial advisor for guidance on how to best align her assets with her wishes and ensure a smooth transition of wealth.

Discuss the key elements Linda should consider in her estate planning to achieve her goals, including strategies for minimizing estate taxes, the use of trusts, and potential charitable giving options.