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5610 Ward Road, Suite 300 Arvada, CO 80002
9200 E. Mineral Avenue Centennial, CO 80112
Phone: 303-252-0852
Website: www.walshfinancialsolutions.com
May/June 2018
Leaving a Legacy
If you have considerable wealth — and even if you don’t — you might wonder how to leave a financial legacy behind for a beloved organization or favorite charity.
Giving USA found that giving by individuals grew at a higher rate than other sources of giving in 2016. Individuals gave an estimated $281.9 billion, a 3.9% increase from the prior year. With major fundraising efforts in 2017 for victims of the rash of natural disasters in North America, the pace of giving may not slow soon.
How to Give
When you decide to give away assets, it’s a good idea to make sure you have current information regarding the rules. For example, on the federal level, individuals may give up to $15,000 to as many people as they want free of gift tax.
If you’re short on cash, gifts of appreciated assets like stocks can help organizations that accept them. Individuals can also name charitable organizations as beneficiaries of life insurance policies.
Giving and Getting
Even with the most altruistic intentions, you can structure a gift to benefit both your family and a charity. Gifts of assets and cash made to a charitable remainder trust (CRT) can provide lifetime income for you and a loved one, income tax advantages and eventually needed funds for a charity.
The CRT can specify how long an income stream will last and when the trust’s term will end, upon which assets will pass to the charitable organization named in the trust. One caveat: Make sure you are okay parting with any assets you intend to pass to a CRT, which is an irrevocable trust. Once you make the transfer, your decision is permanent.
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Advisory Services offered through Walsh Financial Solutions or Vanderbilt Advisory Services. Securities offered through Vanderbilt Securities, LLC. Member FINRA, SIPC. Registered with MSRB. Walsh Financial Solutions and Vanderbilt Securities, LLC are separate and unaffiliated entities. Clearing agent: Fidelity Clearing & Custody Solutions. Insurance Services offered through Vanderbilt Insurance and other agencies. Supervising Office: 125 Froehlich Farm Blvd, Woodbury, NY 11797 631-845-5100
For additional information on services, disclosures, fees, and conflicts of interest, please visit www.vanderbiltfg.com/disclosures
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