Support a cause that's important to
you with a charitable gift and put your
assets to work with our tax-efficient charitable
strategies. Learn about the many tax benefits of
making a gift while creating your legacy.
Support a cause that's important to
you with a charitable gift and put your
assets to work with our tax-efficient charitable
strategies. Learn about the many tax benefits of
making a gift while creating your legacy.
While visiting the Wills Planner on her favorite charity's website, Kim, a surviving spouse, came across the idea of a Give it Twice Trust. She contacted the charity for more information and talked with a gift planner who explained the concept as a way to first give income to children through a trust and then transfer the trust balance to charity in the future.
Kim: Fred and I talked about this before he passed away. We both agreed that we wanted to treat each of our four children equally and also provide a benefit to our favorite charity.
The gift planner told Kim that with her estate of $800,000 she would have the ability to do something significant for both her family and favorite charity. Kim was concerned because while her three older children are financially responsible, her youngest, Jim, "spends money like water." Kim was afraid that if Jim were to receive cash in a lump sum he would spend it right away.
The gift planner explained that the "Give It Twice" plan could be very helpful. Kim could transfer $400,000 from her IRA at death to the trust. Her children would each receive one-fourth of the income from the trust over 20 years. That would give Jim a chance to learn to save and invest. After that time, the trust balance would benefit her charity. In addition, by using her IRA, Kim could save on income tax because the special trust is tax-exempt.
Kim: I established a Give it Twice Trust and was thrilled with the plan. The prospect of helping my four children and my favorite charity made me happy and I knew that it was the right thing to do.
*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your benefits may be different, you may want to click here to view a color example of your benefits.
Explore additional resources to help you with your tax planning and making a gift in support of our mission. Contact us for more information about ways you can support our organization, or let us know if you have given to us in the past.