Tax Law Changes are Coming - Be ready with these four easy tips!
- Capital Gains taxes set to rise January 1st. By making a gift of appreciated assets like stocks and other long-term assets you can avoid some or all of the capital gains taxes you would otherwise pay if you sold assets. Contact our Planned Giving office for information on ways to convert highly appreciated assets to an income stream you can never outlive.
- Gift and Estate Taxes will rise, too. Current plans are for gift and estate taxes to rise, meaning it may be costlier to transfer property to family and those you love. Gifts to charity, like The Leukemia & Lymphoma Society (LLS), are exempt from these taxes ? meaning your planned gift can actually go farther and put more into the pockets of loved ones. Let us show you which of your assets are the right ones to gift to charity so that your loved ones don't pay unnecessary taxes.
- Be prepared to move quickly. Because tax laws are in flux you may have to make a series of plans as the laws unfold. Staying in touch with your advisors now is the best approach, and don't forget to include our Planned Giving staff as part of your advisement team.
- Review and update your estate plan. Life events such as birth, divorce, or death of a loved one are times to review your estate plan. Changes to tax laws, like those coming in 2013, should also prompt a re-examination of your plans. Our pamphlet Personal Affairs Record can help you put your plans in order. Contact us for a copy.
For more information on how our Planned Giving office can help you offset taxes, increase income and make a life-saving gift at the same time contact Ed Rodbro, National Director, Planned Giving at 914-821-8854 or email@example.com.