Life Stage Gift Planner™

Over Age 70

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For the charitably inclined, certain types of gifts can provide solutions to taxing problems:

Charitable bequest
If you would like to make a substantial gift for Disabled American Veterans but you do not have the current disposable income or assets to do so now, consider a charitable bequest.

Cash, checks, and credit cards
A gift of cash is easy to make, and the gift is not subject to gift or estate taxation. A contribution that you postmark in December is deductible for that tax year—even if Disabled American Veterans receives it in January—provided the account against which the check was written had sufficient funds to cover it in December.

Charitable gift annuity
Support Disabled American Veterans and receive a fixed income for life. In exchange for your gift, Disabled American Veterans will provide payments for life to you or a beneficiary you designate.

Charitable remainder annuity trust
Provides for payment of a fixed-dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5% of the initial fair-market value of the trust.

Gifts of retirement plans at death
Retirement-plan benefits left to heirs are often more highly taxed than other assets. Consider giving them to Disabled American Veterans instead to make a meaningful gift and leave other assets to heirs.

 

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