Reasons to Give to Responsibility 501(c)3 Nonprofit Organization

1. Reduce the size of your estate to avoid estate taxes. This year, the federal estate tax exemption is $3.5 per person. It is abolished for one year only in 2010, and then returns in 2011 (indefinitely) as $1 million per person (unless Congress does something to increase the exemption). The value of your estate includes life insurance policies where there is a right to change the beneficiary or borrow against the policy, in addition to all of your assets. For example, if you are a single person who dies in 2011 and have a $2 million estate, your estate will pay approximately $450,000 in federal estate taxes.

2. Gifting is an effective way to reduce the size of your estate to avoid a steep tax (up to 45% on everything above the exemption amount) on your estate.

3. There are several ways to gift, all of which are tax deductible. The following list is a few of them:

*  One time or repeated individual gifts whenever you wish to give them.
* Gifts as a testamentary devise through your will or trust
* Charitable remainder trusts (CRT), where you pay yourself income on the asset for the duration of your life, and when you die, the corpus of the asset goes to charity. This reduces the size of your estate for estate tax purposes because although you receive income for life on the property in the CRT, you no longer own it.

4. Estate planning is an important part of life. It is a prudent and responsible choice which will affect your family and can positively affect charitable organizations for years to come. Your charitable gift of any size makes a difference!

Free 30 Minute Trust Consultation

Attorney Jennifer Hughes will meet with you personally to discuss your estate planning objectives in a free consultation up to 30 minutes long. 


Review of existing trusts available; please contact Jennifer Hughes at 619 840-7797 for details.



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