Perhaps you are thinking about creating a long term plan to support Center for the Arts Evergreen. There are several ways of doing so. Each have beneficial tax implications and allow you to make a donation via your will, as a cash donation, from your IRA, or perhaps as a Charitable Trust.
A few options to consider:
- Leave us a percentage of your assets through a gift in your will.
- Designate a percentage of your retirement plan assets to benefit Center for the Arts Evergreen after your lifetime.
- Donate appreciated stock you have owned for more than one year.
- Donate your home or another piece of real estate.
- Arrange a charitable remainder trust to benefit Center for the Arts Evergreen.
One method for donating to Center for the Arts Evergreen is through a charitable trust. A charitable trust can solve various estate and income-tax planning problems — all in addition to providing meaningful support to Center for the Arts Evergreen.
With a charitable trust, you can provide either an income or a remainder interest for Center for the Arts Evergreen while retaining the other interest for yourself or your beneficiaries. Two basic types of charitable trusts are commonly used: a charitable remainder trust and a charitable lead trust. These two basic charitable trusts are available in several variations. The trust that best suits you and CAE will depend on several factors. As you consider the types of charitable trusts available, keep in mind that before establishing a charitable trust, you should always seek qualified tax and legal advice.
A charitable remainder trust lets a donor make a substantial charitable gift now while receiving income from the assets for use during his or her lifetime. The trustee of a charitable remainder trust can sell appreciated property through the trust and obtain a desired level of income for the donor from the proceeds without incurring immediate capital gains taxes. Consequently, more is left to be invested to provide income for the donor and ultimately benefit the charity.
When you donate property to a charity through a remainder trust, you transfer ownership of the property to the trust, which then pays income to you during the trust’s term.
You determine the amount of income you will receive based on a percentage of the donated property’s fair market value. At your death, the death of your beneficiary or the completion of the trust’s term, the trustee will distribute the balance of the trust assets to Center for the Arts Evergreen. You may retain the right to change beneficiaries and to name multiple charitable beneficiaries.
A charitable lead trust is often structured to provide gift tax benefits and no current income tax deduction. However, the income from the assets is reported by the trust with an off-setting deduction for the amount paid to Center for the Arts.
For complete information or to name Center for the Arts in your trust contact:
Huiting Wealth Management Group of Wells Fargo Advisors
Phone #: 303-670-4964