There are a variety of ways that Planned Gifts offer tax benefits, as you include them in your planning. During your lifetime, a donor-advised fund and Charitable Gift Annuities, as well as a Charitable Remainder Trust, may be used for gifts to charity with considerable tax benefits.
Designating charity as the beneficiary of your retirement funds or your Life Insurance Policy, also may provide significant tax benefits.
With regard to your entire estate, good news! The estate tax exemption is now over $5 million - which means most Americans are no longer concerned about estate taxes because their assets fall below that threshold.
If your assets are more than $5 million, there are several things you can do to reduce your estate taxes - here are three of the most common strategies:
- Gift your assets directly to family members or ministry organizations.
- Create an Estate Plan. This process will provide the peace of mind that you have deliberately considered all aspects of your family's needs and implications for inheritance issues. E-mail us at firstname.lastname@example.org and someone will be in touch with you to walk through the process.
- Use advanced Estate Planning techniques. For example, you might consider using gift planning vehicles such as a Charitable Remainder Trust or a Charitable Lead Trust where you transfer assets into a trust. E-mail us at email@example.com if you need help.
Other questions you may have...
- Is it time to update my Will?
- How can I leave a lasting legacy and pass my values to the next generation?
- How can I give a gift and receive an income for life?
- What are the advantages of giving non-cash assets?
Did you find what you were looking for? Feel free to email us at firstname.lastname@example.org if you need help with next steps or have other questions.