Below are some of the most commonly used assets
for funding planned
gifts for the Truman Little White House.
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Appreciated stock or real estate
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If these assets produce a low yield and are highly
appreciated, some or all could be given to The Key West Harry S. Truman
Foundation, Inc. as an outright gift or to fund a charitable gift arrangement-a
potential savings of both capital gains and income taxes.
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Qualified retirement plan assets
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These are among the most
heavily taxed assets to try to pass on to children, so other assets are
best to leave to family. Retirement plan assets are the optimal assets
to direct, after lifetime uses, to charity. These assets can be used first
to support both the plan owner and spouse, before some or all is designated
by percentage to The Key West Harry S. Truman Foundation and other charities
you care about-a simple, revocable choice made on a change of beneficiary
form.
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Life insurance
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Ownership of a life insurance
policy that an individual no longer needs can be given to The Key West
Harry S. Truman Foundation, Inc. at any time during life. The Key West
Harry S. Truman Foundation can be included as a beneficiary of an insurance
policy-again, a revocable choice. If it is written as an irrevocable choice,
the annual premiums may also be tax deductible. Again, please consult your
estate planner.
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Certificates of deposit
or savings bonds
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These often are no longer
paying income to an individual, who can redeem or cash them in and, then,
make an outright gift made of all or some of the proceeds to The Key West
Harry S. Truman Foundation.
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Beneficiary designations
on qualified retirement plans or life insurance policies
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| This is a revocable choice,
a designation by percentage or all, that is made on a beneficiary designation
form that a donor completes, dates and returns to the company holding the
asset. Retirement plan assets often result in multiple taxes after the
death of the plan owner and spouse, so they are best suited for charitable
giving-with other assets given to family. Life insurance can also be given
in percentage or wholly on a beneficiary designation form, but giving it
is less advantageous to a donor than giving from a retirement plan, with
its multiple future tax liabilities. |
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| A copy of the official registration and financial information may be obtained from the Division of Consumer Services by calling toll-free (800—435- 7352) within the state. Registration does not imply endorsement, approval, or recommendation by the state. The Key West Harry S Truman Foundation Registration is CH32274. |
