You hear about them every once in a while: the lady that worked an ordinary job and her estate left over $4 Million dollars to her favorite charity. How did she get there? Was she the recipient of a sizeable inheritance? How could she accumulate such a large chunk of money? Today’s environment finds many people struggling with personal financial issues. How about the other side of the coin: what traits can you develop to put yourself (andRead More
Do you want to simplify your charitable giving plan? Do you want the benefits of a family foundation without all of the complicated regulations? If you answered yes, you may want to consider using a Donor Advised Fund (DAF).
DAFs have become very popular in recent years. The concept is quite simple. An investor (donor) can open an account at a sponsoring company. Fidelity and Vanguard each offer DAF accounts. Our local community foundation also offers a DAF. OnceRead More
I will never forget the year Mom received “Buttercup.” She had religiously collected every ornament from Hallmark’s Mary’s Angels Collection. But she missed Buttercup one year. She had come to accept the fact her collection would never be complete. When she opened her gift and identified the lost treasure, she cried tears of joy.
Ask any child if they would prefer to get a gift or give a gift, the answer becomes abundantly clear. However, as we mature into young adultsRead More
Did you know that the federal government has established guidelines for gift tax exemptions and gift tax rates for all property? While these guidelines are generous– everyone has a lifetime gift tax exemption of $1,000,000– it’s still important for you to understand them.
In 2007 and 2008, the IRS determined that gifts under $12,000 per person, per year, were exempt from a federal gift tax. Gifts over the annual $12,000 per person limit are called “taxable gifts.” In theRead More