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© Henry & Associates – gift-estate.com Become proactive in the planning process with your supporters. Treat them as client / donors. Develop lifetime relationships. Charities must learn how to encourage donors to keep the fruit and give away the tree.
© Henry & Associates – gift-estate.com The Real Impact of Estate Taxes is Catastrophic Prince & Associates
© Henry & Associates – gift-estate.com Family Business Failures Educational systems have an opportunity to intervene and help families transition. Besides fostering a sense of community, it ensures that viable businesses survive in the tax base.
© Henry & Associates – gift-estate.com Donor Concerns in Philanthropy Are Addressed With Education
© Henry & Associates – gift-estate.com Overcome Financial Fears l Financial goals must not be jeopardized by charitable strategies l Acknowledge and address concerns about the donor’s financial security and any potential turmoil from concerned heirs before pursuing gifting programs l The majority of donors would give more if they were in a position to do so l Show them how to afford more gifting
© Henry & Associates – gift-estate.com Financial Mentoring l Charity involvement in problem solving l Teach responsibility l Provide a forum for management and investment experience l Build self esteem l Develop administrative skills l Foster community leadership l Encourage donative intent
© Henry & Associates – gift-estate.com Sources of Planned Giving
© Henry & Associates – gift-estate.com Financial vs. Social Capital Income + Net Worth Personal Financial Capital Personal Social Capital LifestyleInheritance Gift Voluntary Tax Involuntary
© Henry & Associates – gift-estate.com Source: 2003 OMB and U.S. Treasury Dept.. Who decides how much comes back to your community and projects?
© Henry & Associates – gift-estate.com Benefits of the CRT v Increased Income to the Trust Beneficiary v Tax Benefits from Repositioning Assets G Current Income Tax Deduction G Capital Gains Tax Avoidance G Estate Tax Savings G Tax-free Growth v Gift of Significance to Charity v Increased Estate to Heirs v Control of Social Capital Already Committed to the IRS, Minimizing Unnecessary Expenses v Enlightened Self-Interest Promoting the Concept of Economic Citizenship
© Henry & Associates – gift-estate.com Zero Tax Estate Plan Client & Spouse $3 Million Net Worth Spousal Trust (“A Trust”) Family Trust (“B Trust”) $1,500,000 Balance of Estate Irrevocable Life Ins. Trust WRT $1,500,000 $2,500,000 Proceeds $36k/yr. premium $1,000,000 IRC 664 Trust $2,000,000 $500,000 IRD $2,000,000 $100k/yr.+ Tax Benefit Captured “Social Capital” -- Economic Citizenship $100,000/yr. Charity or Family Foundation $2,500,000 Heirs $5,000,000
© Henry & Associates – gift-estate.com Classic Applications v An executive with net worth concentrated in company stock and/or options with a need to diversify v The owner of a closely held business who wants to sell with more favorable tax treatment v “C” Corporate stockholders using partial redemptions v The owner of under performing non-leveraged real estate with a low tax basis v The holder of a highly appreciated stock portfolio who wants to reposition growth assets to income assets v The owner of property who is nearing retirement and wants out of day-to-day management (grain & equip.) v The owner of a low income or non-income asset who needs more current income v Someone who wants to improve management and control their estate assets
© Henry & Associates – gift-estate.com Every school district should consider creating a fund, foundation or community foundation and make planned giving a priority. Designate a specific individual to develop deferred gifts, while continuing to expand current financial support. Students should not be expected to raise operating funds through candy, pizza and magazine sales. Instead, an integrated plan to redirect the community’s social capital should be implemented. Henry & Associates - Springfield, Illinois 800.879.2098 tollfree - VWHenry@aol.com internet web sites for ideas and tools: http://gift-estate.com
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