following tools are listed, because they can serve you in accomplishing
your estate-plan goals. After each explanation, there is a link to some
examples that further describe the benefits of each option. Those
examples are provided for general information only and are not provided
as legal or financial-planning advice. Your attorney or financial
planner can offer specific direction that fits your personal situation
and is consistent with the current laws.
Give this gift to KML
and escape the capital gain tax while receiving an income tax deduction.
You also remove that asset from your estate, thereby reducing your
potential estate tax burden.
simple option allows you to designate the recipient(s) of your various
funds, bank accounts or life insurance benefits without the cost or
delays of probate.
can be purchased that name KML as a beneficiary. You donate the yearly
premiums to maintain a small or large policy. The gift of the premiums
is much smaller than the possible gift after death. You would be
surprised how big a gift can be given for a small yearly premium!
Stocks & Mutual Funds
These types of transactions are easy to make. It may offer even more
benefits to you and to KML than a cash gift. In some cases, making a
charitable contribution using an appreciated asset can help you
accomplish your personal goals as well as exercise your charitable
spirit. A transaction can be done electronically directly to KML.
Charitable Gift Annuities
Charitable Gift Annuities (CGA) can be established to help you
fulfill the goal of receiving steady income throughout your life, and
also making a substantial gift to your church or KML. It remains a
popular giving tool that has long appealed to donors. Through a gift
annuity, donors give cash or stock to a ministry in return for lifetime
fixed income payments that are based on age--the older the donor, the
larger the payment. Even after lifetime payments to donors, a ministry
like KML is still left with a good portion of the original gift for
expansion of the ministry.
Charitable Remainder Trust (CRT)
Need a security blanket? CRTs work particularly well with appreciating
assets, and can be used with stock in a family owned business or real
estate. No income tax is imposed on the remaining value of the trust,
and you get a current income tax deduction. As a result, you obtain the
tax benefits while postponing the date when the charity receives the
Charitable Lead Trust (CLT)
A CLT is the flip side of a Charitable Remainder Trust. Give the
charity the use of the asset and the right to the income generated for a
period of years. Then, the asset can revert back to you, or go to
whomever you choose. This can be income-producing stocks and bonds or
other valuable items. You get a current income tax deduction for the
value given to the charity (but the trust pays income tax on its
To discuss a planned gift to KML, contact your KML Estate Plan and Deferred Gift Counselor,
Paul Snamiska, at 262-677-4051 x1116 or firstname.lastname@example.org.
The information that is provided on this site is for educational purposes only. Consult your personal tax consultant, attorney, or financial planner for specifics that apply to your personal situation.