Life Stage Gift Planner™
Over Age 65
At this stage in life, some of the financial issues you may find yourself dealing with are:
- Shifting to income-producing assets
- Increasing cash flow—charitable gift planning can help minimize taxes
- Maintaining financial stability
- Anticipating healthcare needs and insurance coverage
- Concern about the financial future of younger members of the family
- Review will and estate plans
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 Law Center 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.
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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