Estate And Gift Planning
Cash
Give a cash gift and you receive a charitable income tax deduction for the full amount of your gift. Your taxable estate is reduced by that amount as well.
Securities
The market is crazy but there are plenty of appreciated holdings still out there. When you are considering a gift, a donation of long term appreciated securities is tax wise. As you are rebalancing your portfolio, consider donating securities instead of selling. If you are holding loss securities, sell them, take the loss on your taxes, and donate the proceeds to maximize your tax benefits.
Privately Held Interests
Did you know we can also accept gifts of closely held or restricted securities? C-corp and S-Corp stock, limited partnerships, LLC’s are all possible gifts. Before you sell a business interest, talk to us about possible tax savings.
Real Estate
Donate long term appreciated real estate and avoid capital gains taxes as well as the burdens of property management. Consider donating vacation or second homes that are no longer needed. Commercial property can be an excellent asset for a gift.
Retirement Plans
Name the College of Medicine as a full or partial beneficiary of a retirement plan and avoid the heavy taxation of this asset that occurs when left to your heirs. This is a simple revocable way to give that is easy and quick to accomplish.
Life Insurance
Holding old policies that are no longer needed? Receive an immediate income tax deduction for donating a paid up policy. Or, name us as a beneficiary of a current policy.
Personal Property
Collectibles, art, fine wine, equipment, and other types of tangible personal property can be donated. Tax consequences differ, so call us to discuss.
Patents, Copyrights, Royalties, Limited Partnerships
Almost anything can be donated. As with personal property, tax consequences differ. If you or your estate will be taxed on an interest, talk to us before you liquidate. Some of the largest and most interesting donations can come from the myriad of interests our physicians and donors are involved in.
Estate/Trust Gifts
Naming us in your will or trust is one of the simplest and most lasting ways to create or continue your legacy. Ask us for our information packet on these gifts.
Gifts That Provide You with Income
There are many gift vehicles that can provide you or others with a stream of income, fixed or variable. Most of the assets described above can be used. We have an experienced gift planner who can discuss these options with you.
Please contact us at 859-323-6415 for more information. Also, please consult with your own advisor as we cannot provide legal or tax advice. We would be honored to assist you in planning your legacy.
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