What if…You could make a difference, forever?
Donors who have created their legacies.

After a successful career at a CPA firm, Kay, age 74, has enjoyed volunteering at her church and leading a Woman’s study group on Wednesdays. Her children are grown and her husband Mike, passed away 6 years ago. Her church family is important to her and helps to fill the void left by the loss of her husband.

Kay has an IRA accumulated through her employment with the CPA firm and while it provides a nice level of income, it also has income taxes she must pay when she takes her Required Minimum Distributions (RMD) each year.

While visiting with her financial advisor, she suggested Kay consider making all of her charitable contributions from the IRA. Those contributions when passed directly to the charitable beneficiary, would avoid recognition of the income and potentially save Kay taxes on those distributions.

After a successful career at a CPA firm, Kay, age 74, has enjoyed volunteering at her church and leading a Woman’s study group on Wednesdays. Her children are grown and her husband Mike, passed away 6 years ago. Her church family is important to her and helps to fill the void left by the loss of her husband.

Kay has an IRA accumulated through her employment with the CPA firm and while it provides a nice level of income, it also has income taxes she must pay when she takes her Required Minimum Distributions (RMD) each year.

While visiting with her financial advisor, she suggested Kay consider making all of her charitable contributions from the IRA. Those contributions when passed directly to the charitable beneficiary, would avoid recognition of the income and potentially save Kay taxes on those distributions.

Kay said, “So I can make a substantial contribution to my church and not pay taxes?” The advisor stated that was in fact the case with annual limitations.

Kay and her advisor then looked at her total annual budget and Kay decided to begin making annual contributions from her IRA to the church.
Is this strategy right for your circumstances? For more information call the church at (803-548-5489) or contact your financial advisor.

Frank died in 2019

This Easter Sunday he is providing the music for the service.

Frank was a lifelong member of his church and for many years sang in the choir. He also served on the church council for two separate terms and enjoyed working with the children’s choir.
Never married, Frank wanted to leave a legacy to his church that would last forever.
Creating a provision in his will, Frank created an endowment for his church in which the principal would remain in tact and the interest would fund music for the church, in his name, forever.
What will your legacy be?

For more information, call the church at (803-548-5489).

Claudia’s church was conducting a capital campaign to increase the size of the facility, add staff, provide furnishings and upgrade the kitchen.
In visiting with her financial advisor, Kay stated, “I do not have the resources to be a major donor to my church’s capital campaign, but I could provide new kitchen dinnerware and silverware.”

The advisor showed her that by using some highly appreciated stock that her mother left her years ago, Kay could receive a charitable tax deduction and avoid any potential capital gains tax on the donation. The advisor also suggested that she leave the balance of the stock in her will to the church.

Claudia would provide the dinnerware now and make a major gift at her death.

For additional information, call the church at (803-548-5489) or contact your financial advisor.