Description

Charitable giving and selling your company are not necessarily two distinct activities. With a little planning before the sale of your company, you can establish a charitable trust that can yield you a near-term tax deduction; reduced capital, income and estate tax obligations; and, income over many years. Of course, the charities or religious organizations of your choosing can be named as the beneficiaries of your trust. To paraphrase our guest, Tiffany House, “Some charitable trusts are so compelling that it almost pays to donate to charities, even if you were not planning to do so.”

The following are among the issues discussed during this highly informative podcast:

• What is the minimum intended donation needed to make establishing charitable trusts worthwhile?
• Are charitable remainder trusts best positioned to reduce capital gains taxes? Income taxes? Estate taxes? What about charitable lead trusts? The grantor or non-grantor variety?
• To what extent are there age restrictions on establishing charitable trusts and receiving income streams therefrom?
• Which types of organizations can be beneficiaries of charitable trusts?
• Can a trust name multiple beneficiaries? Can the beneficiaries be switched?
• Can principal be tapped without having to terminate the charitable trust?
• Can beneficiaries be trustees? Do boards need to be appointed?
• Is there a “poor man’s” version of charitable trusts? If so, what is it and how does it work?

Guest Speaker: Tiffany House

Tiffany House is a Chartered Advisor in Philanthropy, a Certified Exit Planning Advisor and a Fellow in Charitable Estate Planning.