Phil and Alicia had often put some of their savings into the stock market. One of their first charitable donations had been a gift of appreciated stock. They were also employed by companies that had 401k plans. They kept investing and the value of their plans kept growing.

Phil:"It really has been a wonderful ride. Our first experience was giving several hundred shares of a stock that had more than doubled in value. We needed some help that year with our tax situation and that gift was a great idea. Also, our tax-sheltered retirement plans kept growing and just recently we rolled them into our IRA. It's grown beyond our wildest dreams."

Alicia: "But taxes will eat up so much of it. Not that we need it all, but we were hoping to get more value out of it."

Phil: "We found a way to do everything we wanted - have access to the principal if we needed it and, when we're gone, provide both income for our kids and a nice gift for Boys & Girls Clubs of America. Our attorney told us about a testamentary charitable remainder trust that would be funded with the assets that remain in our IRA after we're gone."

Alicia: "Tax benefits, protecting our family, and knowing we're making a difference in children's lives - it feels good!"

A testamentary trust only becomes effective and irrevocable at the time of your death. For Phil and Alicia, a beneficiary designation in their IRA will transfer the remaining assets at their death (second to die) into the testamentary charitable remainder trust. (Of course, individual circumstances will vary - as with all tax and estate planning, please consult your attorney or estate specialist.)

The results are that the assets remaining in the IRA upon their deaths will not incur any income tax liability going into the trust and a nice future gift for the charitable organization is established. In addition, a taxable income stream for their heirs is created and some estate taxes may be saved.

As we said earlier, there are as many ways to support Boys & Girls Clubs of America as there are needs for your support. Please contact us if you have questions or if you would like to discuss your personal circumstances to see how you can enrich your heart as many others already have.

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