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As you get ready to toast the new year, consider these smart ways to wrap up 2022 on a financial high note. Not only can you save on your taxes, but you can also make a huge impact at Presbyterian Healthcare Foundation. Contribute appreciated stock instead of cash. If you...
Make a Plan That Reflects What Matters to You
If you have put off writing your will or deciding who gets your belongings when you’re gone, you are not alone. Face it, estate planning can seem like a chore. But—as with paying the bills or cleaning the house—it feels great when...
Think about how many places you have money saved. They may include: checking accounts, insurance policies and retirement plans. Now ask yourself: When I set up these accounts, did I remember to add a beneficiary? If so, did I tell that person?
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Presbyterian Healthcare Foundation as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Presbyterian Healthcare Foundation as a lump sum.