Tip of the Week
Variety is the spice of giving.
You can give almost any kind of highly appreciated property—such as closely-held stock, real estate, partnership interests, or valuable art—to a charitable remainder trust and receive major tax and income benefits.
So, all at once, you can:
- Receive income for life
- Take a charitable tax deduction
- Avoid all capital gains tax
- Support the mission of the American Institute of Chemical Engineers
You can even allow your assets to accumulate tax-free until you "turn on the income spigot" at retirement or some other future event, such as the start of your child's education.
Planning your estate and legacy for future generations, including your charitable interests, takes careful evaluation. Consulting with the appropriate professionals can assist you.