Ideas For Giving and Saving For Your Family

Independent LivingMany people believe they have to decide between keeping their money, giving to family or supporting their favorite charitable causes. However, even while giving generously to charity, you can profit from your investments, save for your family and support causes that are important to you.

By incorporating a charity like ours into your plans, you can create options with benefits that go beyond making direct cash gifts to your loved ones.

With the charitable remainder trust, or CRT, you can transfer almost any asset to create an income stream that will provide for your loved ones after you are gone. Most often these plans are written to pay income to family
members for a term of up to 20 years.

Charitable Remainder Trust Benefits:

  • Avoid capital gains tax with the gift of appreciated assets.
  • Receive an income tax deduction immediately for part of the funding amount.
  • After payments are made to your family, the remainder goes to help our cause.

A charitable lead trust (CLT) is similar to a CRT but provides income to a charitable organization for a number of years, then gives what remains (plus growth during the trust term) to your family. The CLT gives you an unparalleled way of transferring wealth to your family while minimizing gift and estate taxes.

Life insurance is also a tool you can use to achieve surprising results for your loved ones. Life insurance alone is a relatively inexpensive way to provide your family with a tax-free inheritance. Life insurance coupled with a charitable remainder trust is another way to create lifetime income for yourself, fund an insurance plan for your family and make a significant gift to charity.

With just a little planning, we can help you provide for your family and give to the causes you care about. Call (732) 922-9800 or e-mail to learn more about charitable trust and life insurance plans.