Charitable Giving Strategy

Charitable Giving Strategy

  • Client Profile
    • Client wishes to leave meaningful bequest to charity, church, personal foundation, etc.
    • Client may not have other beneficiaries.
    • Client often has large personal net worth.
    • Client may desire to utilize favourable tax treatment of donations via estate.
  • Solution Opportunity
    • Determine the size of the bequest that the client would like to make.
    • Alternatively, determine the amount of tax liability that the client would like to eliminate, on a go-forward basis, or at estate time.
    • Donations made at time of death may be used against all of that year’s income, and may be carried back one year prior.
    • Donations made while living (including designation of charity as irrevocable beneficiary of insurance contract), may only be used up to 75% of years’ income.
    • Purchase permanent life insurance to cover the desired gift/liability/provide desired annual amount.
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Posted ON Tue, May 18, 2021 at 4:38:10 pm MDT    Comments (0)
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