PLANNED GIVING

Assuring excellence in service and program at the Tualatin Public Library by attracting private funding to enhance library services and materials.

There are two times in your life when you can gift: while you’re alive and after you pass.

   If you give now, you not only benefit from tax advantages, but you can also enjoy the benefit of seeing your gift in action. Making gifts while you are alive lets you do just that.

   On the other hand, gifting after your death enables you to leave a legacy that will live on – maybe forever. In that case, the benefits are two-fold: you can serve as a model for others and potentially reduce your taxable estate.

   Whether you gift during your lifetime or after you die, always consult with your tax advisor prior to making any gifts to be sure there are no surprises at tax time.

Choosing a Gifting Program That’s Right for You

   In its simplest form, gifting presents an opportunity to transfer assets.

   Reducing your taxable estate used to be simple. However,  many individuals with substantial estates are turning to more sophisticated gifting techniques that offer greater tax advantages or the opportunity to realize other benefits, such as:

·         Satisfying philanthropic goals

·         Providing continual income for themselves or heirs

·         Avoiding capital gains tax on appreciated assets

·         Reduce potential estate taxes*

·         Receiving a current income tax deduction

·         Transferring assets at a discounted value

Gifting Appreciated Assets

    A carefully designed gifting program that qualifies for your $13,000 annual exclusion can help you achieve substantial tax savings by lowering your taxable income. One way to do that is by gifting stocks or other appreciated investments that have a very low cost basis (i.e. the original price you paid for the stock was low). Gifting this type so stock removes the assets from your estate and may help you avoid a capital gains tax that you would realize if you had sold the stock yourself.

   Also, by donating the stock directly to the Tualatin Library Foundation, taxes are not deducted, so the Foundation receives more money.

Advanced Gifting Strategies

   Some advanced gifting approaches that offer benefits for both you and the Tualatin Library Foundation include:

·         Charitable Remainder Trust

·         Charitable Lead Trusts

·         Donor-Advised Funds

·         Private Foundations

·         Charitable Gift Annuities

Incorporating Gifting into your Overall Estate Plan

   Whether your Gifting Appreciated Assets is to achieve philanthropic goals or to lower your taxable income, you have many options. Your team of professionals, including your financial advisor, your attorney and tax professional, can help you explore your options so you can choose the strategic approach that best fits into your overall estate plan.

   Additionally, the Board of Directors of the Tualatin Library Foundation, has selected Michele Kaiser, Financial Advisor for Edward Jones, as the organization’s financial advisor. She may be contacted at 503-691-2989 or via email at Michele.kaiser@edwardjones.com.

*Edward Jones and its employees and  financial advisors are not estate planners and do not provide tax or legal advice. You should consult a qualified tax or legal professional for advice regarding your specific situation