Make the World a Better Place Through Charitable Planning.
Many of our clients want to leave a legacy to local or national charitable organizations.
Many of our clients want to leave a legacy to local or national charitable organizations. Some clients have no children with whom to leave their property. Others have children who are so successful in their own businesses or professions that they do not need additional wealth. Many clients have favorite charities that they want to ensure will continue to do good works long beyond their lifetime.
Charitable planning can take many forms
Charitable planning can take many forms. A gift of appreciated stock receives an income tax deduction equal to its current market value. Gifts of closely-held stock enjoy the same tax benefits as publicly traded stock. There is no capital gain tax when stock is transferred to charity. We can put stock in a charitable remainder trust and you can continue to live on the income.
A gift of real estate can provide the perfect opportunity to make a substantial gift. Gifts of valuable items like jewelry, antiques, or art can also create significant legacies and lifetime income. Donors have an option to continue to live in their homes by retaining a life estate.
A donor can deduct insurance premiums by assigning a life insurance policy
A donor can deduct insurance premiums by assigning a life insurance policy to the charity as owner and beneficiary. When the policy is redeemed, a permanent fund is created to support the donor’s charitable goals.
You can lessen the impact of income, estate and generation-skipping taxes on retirement accounts by naming charitable organizations as the beneficiary, thereby removing the asset from the donor’s taxable estate.
