Personal Planning Ideas

The old expression “life begins at 40” probably should be updated to age 50, 60 or 70, in view of today’s increased longevity and healthier lifestyles. It’s our experience that interest in charitable gift planning originates and develops at various ages, as well:

People in their 30s and 40s. Wills and estate plans are generally first drafted when donors are in this age range, and many decide to express their gratitude and desire to help with a provision for future generations in their wills, living trusts, life insurance or retirement plans.

50s and early 60s. People looking toward retirement often find that a charitable gift annuity, with payments deferred until retirement, can be a satisfying complement to their savings. Friends who have found success in the stock market, their business or careers often are at an age when charitable remainder trusts begin to make sense as a way to minimize income taxes, help worthwhile institutions and maintain a good income for life.

Ages 65 to 75. Retirement years may bring a desire for gift arrangements that provide tax deductions and a steady income that is also partly tax free. A gift annuity can be just the answer. Friends who own real estate or other investments sometimes decide to transfer those assets – and the management burdens – to the trustee of a charitable remainder trust that enables them to enjoy a good income, provides tax benefits and bestows the satisfaction of helping in an important way.

Ages 75 and older. Gift annuity payout rates are highest at these ages, and many people are reviewing estate plans, with thoughts about the next generation and of leaving the world a better place. Planned gifts can be a most satisfying component of their planning.

Our staff is pleased to meet with anyone who is interested in planning for our future, and we hope you will call our office any time you have a question or desire to sit down with us. We look forward to hearing from you.

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