What are some of the strategic ways you can “empower” your story – that can become part of your “financial life plan?

Appreciated Assets (not just appreciated stocks, but land interest, mineral rights, and more):

• Capital gains tax on the unrealized appreciation of these types of assets is often eliminated when deferred to ministry as a gift.  The ministry you choose would need to affect the liquidation (sell these assets).  The full fair market value is typically tax deductible at up to 30% of your adjusted gross income.  Any amount in excess of that can be carried over for up to five years!  

Retirement Plan Assets:

• Funds referred to as “qualified” retirement funds can be taxed at 40% or more if passed on to heirs at passing - however, if you pass that fund directly to a qualified charity or ministry, they can pass tax free (so pass these assets to charity, and other $$ to heirs!).  
• With IRA’s, from age 70 ½, the IRS also now allows for up to $100,000 per person per year to be donated from your IRA directly to a qualified charity - completely tax free to you! 

Two-Way (“Split”) Interest - Charitable Unitrusts (“CRUT’s”):

• Of special interest, gifts of appreciated assets may also be made through a Charitable Remainder Unitrust.  In these arrangements, the otherwise attributable initial capital gains tax on the growth of these assets is eliminated – placing all the dollars to work first for you, or someone you designate, granting an income for life or a fixed term of years, depending upon age.  
• In addition to the favorable treatment of initial capital gains taxes, a charitable tax deduction is also applicable (capable of being carried over in its excess for up to five years).  You can fund a CRUT immediately, or begin the funding of it with an initial asset, and then add to it over its life.

We make it easy!

These are just a few of the many ways and means to helping you assure that your unique life story (your “stories under management”) is empowered and perpetuated for future generations.  As we say, such situations as these, and not necessarily complicated, but they can be complex – but we’re here to help guide you through this.  Reach out to us with any questions you may have - or for a customized proposal around a scenario you envision.  Our proposals are comprehensive and will help facilitate a review between you and your tax advisor, for its actual operation in your unique situation.

We can be reached at 800-259-5388, or directly via leavealegacy@letufoundation.org.