10/19/2017
GIFT PLANNING IN EVERY ECONOMY • Gift Remainder Interest in Personal Residence, Vacation Home, or Farm – Charitable income tax deduction now for older couple, for personal residence, vacation home, farm (only) – Nothing changes for donor(s) who continue to live in the home, pay taxes, maintenance – An out‐of‐state vacation home gift can avoid ancillary jurisdiction, simplify estate – Options available if donor(s) must move from home – Ideal for those who want charity to have the property, plus a prized income tax deduction since most do not have a taxable estate 22
GIFT PLANNING IN EVERY ECONOMY • Retirement Plan Assets – Beneficiary designations, by percentages, of (all or part) of (one or more) retirement plan assets – Avoid significant taxation potential – Revocable – Simple form to designate/change beneficiary
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GIFT PLANNING IN EVERY ECONOMY • Life Insurance – Beneficial designations, by percentages, of (all or part) of (one or more) life insurance policies that are no longer needed by donor or donor’s family – Avoid inclusion in estate – Revocable – Simple form to designate/change beneficiary
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