Life Stage Gift Planner™

Ages 60–70

• Comprehensive estate- and wealth-transfer planning
• Understanding the transfer-tax system
• Learning about wealth-transfer techniques
• Active financial planning
• Increasing cash flow—charitable gift planning helps minimize taxes
• Shifting to income-producing assets
• Assisting children with debt through annual gifts
• Assisting grandchildren with education expenses
• Concern with the financial future of the next generations
• Using trusts and wealth-transfer strategies to achieve goals
• Taking advantage of charitable trusts to optimize family wealth transfers and maximize tax benefits

For the charitably inclined, certain types of gifts can provide solutions to taxing problems:

Charitable bequest
If you would like to make a substantial gift to William Paterson but you do not have the current disposable income or assets to do so now, consider a charitable bequest.

Cash, checks, and credit cards
A gift of cash is easy to make, and the gift is not subject to gift or estate tax. A contribution of cash or by a check that is postmarked in December is deductible for that tax year—even if William Paterson receives it in January—provided the account against which the check was written had sufficient funds to cover it in December. A contribution by credit card must be made by December 31 in order to be deductible for that tax year.

Charitable gift annuity
In exchange for your gift, William Paterson will provide payments for life to you or a beneficiary you designate.

Deferred-payment charitable gift annuity
If you are making the maximum annual contribution to your retirement account but are unsure whether there will be enough income when you retire, consider establishing a deferred-payment charitable gift annuity with William Paterson.

Charitable remainder unitrust
Provides for annual payments to the designated beneficiary(ies) of a specified percentage—at least 5% of the value of the trust as it is valued each year. Since the value may vary year to year, the payments may also vary.

Charitable remainder annuity trust
Provides for payment of a fixed-dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5% of the initial fair-market value of the trust.

Gifts of retirement plans at death
Retirement-plan benefits left to heirs are often more highly taxed than other assets. Consider giving them to William Paterson instead to make a meaningful gift and leave other assets to heirs.