Life Stage Gift Planner™
Over Age 65
At this stage in life, some of the financial issues you may find yourself dealing with are:
- Shifting to income-producing assets
- Increasing cash flow—charitable gift planning can help minimize taxes
- Maintaining financial stability
- Anticipating healthcare needs and insurance coverage
- Concern about the financial future of younger members of the family
- Review will and estate plans
For the charitably inclined, certain types of gifts can provide solutions to taxing problems:
Cash, check, and credit card
A gift of cash is easy to make, and the gift is not subject to gift or estate tax. A contribution of cash or by a check that is postmarked in December is deductible for that tax year—even if the UW-Platteville Foundation receives it in January—provided the account against which the check was written had sufficient funds to cover it in December. A contribution by credit card must be made by December 31 in order to be deductible for that tax year.
Charitable gift annuity
Support the UW-Platteville Foundation and receive a fixed income for life. In exchange for your gift, the UW-Platteville Foundation 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.
If you would like to make a substantial gift for the UW-Platteville Foundation but you do not have the current disposable income or assets to do so now, consider a charitable bequest.
Real estate—retained life estate
Give property to the UW-Platteville Foundation while retaining the right to occupy the residence or operate the farm.
Gifts of retirement plans at death
Retirement-plan benefits left to heirs are often more highly taxed than other assets. Consider giving them to the UW-Platteville Foundation instead to make a meaningful gift and leave other assets to heirs.
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