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Peter and Gail were nearing retirement. Over the years, with the help of their financial advisor, they made solid investments in securities and built a sizable portfolio of stock. While their investments increased substantially in value, their potential capital gains tax bill was rising. Now with retirement on the horizon, they were looking for a way to sell their highly appreciated stock, generate income for their future and avoid paying high capital gains tax.Peter: For a number of years we had supported the work of Valley Christian Schools. Through our accountant, we learned that because the school is a recognized non-profit organization, we could make a gift of our appreciated stock to a trust and bypass the potential capital gains tax cost we were facing. I was thrilled to learn that after transferring our stock to a charitable remainder trust, the trust could sell the stock tax-free.  Gail: I liked the fact that the trust would provide us with income for our retirement years. If something happened to Peter, I would still be taken care of for the remainder of my life. Peter and Gail decided to make a gift of their appreciated stock to establish a charitable remainder unitrust. They were thrilled at the prospect of creating future income while also bypassing capital gains tax. Peter: When I heard that in addition to the other benefits we would receive a charitable deduction for our gift, it was just icing on the cake! I wondered why everyone nearing retirement doesn't set up a charitable trust. Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your IRA gift benefits under federal rules may be different from this person, you may want to contact us to discuss an IRA gift.  The 2010 IRA charitable rollover passed the House and awaits Senate approval. It is not currently available. Because it is very likely to pass this year, we ask you to continue to plan for a potential IRA charitable rollover in the fall of 2010. To learn more click here.For more information please select one of the following options: 1. If you would like to receive more information on the benefits of an IRA gift click here. 2. To learn more about making an IRA gift, you may print a brochure. Click Here. |
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