Lifetime Gift Arrangements Take on More Importance

If federal estate taxes won’t be a concern for you and your family in the future, it may make sense to “accelerate” your charitable bequests through lifetime contributions that reduce your income taxes and minimize capital gains taxes. Remember that your gifts can be arranged to pay you or others lifetime income, through a trust or gift annuity, and you will still be entitled to a charitable deduction and other benefits.

Lifetime gifts can be planned to provide a wide variety of benefits to donors and their families:

  • financial assistance for parents or other loved ones;
  • supplemental college savings for grandchildren;
  • augmented retirement nest eggs;
  • reinvestment of valuable collections for retirement income, tax free;
  • support for “special needs” beneficiaries;
  • financial management for family members who need it;
  • conversion of savings bonds into lifetime income, free of tax.
Note: Even if there were absolutely no tax incentives for charitable giving – during life or through one’s estate plan – people would still support our endeavors, for one simple reason: it makes them feel good! We would be pleased to help you plan any estate gift...for your personal satisfaction.

 

Print this page