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Recent changes to the federal tax laws that affect charitable giving were presented and
discussed by three local experts. Although giving by a check or Roger Ames (LPL
Financial) shared information about how the increased standard tax deduction ($12,000
per person) might affect giving and how giving via stock transfers is especially valuable
for both donor and donee. Michael Rudolf (New York Life Insurance) added some very
interesting and important information about the magic of giving using beneficiaries of life
insurance policies - or splitting beneficiaries. Especially intriguing was transferring nolonger-needed
life insurance policies directly to a charity. Tara Jones (Robinson and
Jones, Co.) introduced four specific ways to donate to charities that reduce taxes: a
charitable gift annuity that transfers the annuity to the charity upon death, directly
transfers of portions of the minimum required disbursements (MRD; those of us older
than 70½ know what this is), direct donation of appreciated assets, and one that has
been around for a long time - a “Donor Advised Fund” that bundles several years of
donation in one lump sum to facilitate itemization of deductions even with the higher
standard deduction.
About 20 people attended this financial seminar which was held at The Knolls of
Oxford. The information from their integrated and well-balanced presentation is
available by at the Three Valley office, or you are invited to contact any of these
panelists or your financial advisor. Thank you to Roger, Mike, and Tara.
(Note: Three Valley Conservation Trust is a member-funded, not-for-profit organization
certified by the IRS under section 501(c)(3) of the Internal Revenue Code as a
charitable organization. The Three Valley Conservation Trust tax identification number
is 31-1418241, and your contribution/donation is deductible.)