Life Stage Gift Planner™
At this stage in life, some of the financial issues you may find yourself dealing with are:
- Accumulating assets
- Active financial planning
- Comprehensive estate- and wealth-transfer planning
- Assisting children with debt through annual gifts
- Taking advantage of charitable trusts to optimize family wealth transfers and maximize tax benefits
- Diversifying investments
- Increasing retirement-plan contributions
For the charitably inclined, certain types of gifts can provide solutions to taxing problems:
Cash, check, and credit card
A gift of cash is easy to make, and the gift is not subject to gift or estate tax. A contribution of cash or by a check that is postmarked in December is deductible for that tax year—even if the JFK Library Foundation receives it in January—provided the account against which the check was written had sufficient funds to cover it in December. A contribution by credit card must be made by December 31 in order to be deductible for that tax year.
Gifts of appreciated securities
A charitable gift of long-term appreciated securities can provide a double benefit—an immediate income-tax deduction for the full fair-market value of the securities and the avoidance of capital-gain tax.
Charitable remainder unitrust
Provides for annual payments to the designated beneficiary(ies) of a specified percentage—at least 5% of the value of the trust as it is valued each year. Since the value may vary year to year, the payments may vary.
If you would like to make a substantial gift to charity but you do not have the current disposable income or assets to do so now, consider a charitable bequest.
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