Charitable Giving in Retirement

Assets that aren’t required in retirement might be excellent candidates for charitable gifts, and they can potentially avoid gift and estate taxes. You have the opportunity to leave a lasting legacy to your family and your chosen charity by offering charitable giving programs. If you still aren’t sold on this idea, you might consider giving this episode a listen. 

Joining us in today’s episode is no other than John Frazier from the LegacyTree Foundation. Before entering the company, he worked as a tax support specialist and independent advisor in the financial service industry. He’ll be introducing the LegacyTree Foundation’s valuable planning concepts today. Tag along with us as we deep dive into the nit and grit of charitable giving in retirement.

What You’ll Learn From This Episode:

[1:53] John explains the LegacyTree Foundation 

[3:42] Do people receive an additional retirement boost when they leave a legacy?

[5:17] What is structured inheritance?

[6:01] What types of assets can be used with the strategies that John has mentioned?

[7:37] The split-interest transaction

[8:35] The charitable bargain sale and its ability to purchase assets at a discount

[11:39] How is the installment sale different from the charitable bargain sale?

[15:36] Talking about his LEAF program

[19:39] Charitable planning is a great way to offset using a high-level tax deduction 

[19:55] Charities are much more efficient at providing aid to those in need than any government agency

[20:49] If you leave income to your kids, it’s not considered part of the gift tax

Key Quotes:

[4:06] “There’s a lot of people who have annuities out there that bought an annuity but are not using it.”

[11:04] “Everybody in real estate or stock with capital gain and business owners who sell their businesses will also have capital gain as part of that windfall.”

[17:44] “Many people hold onto a capital-appreciated asset just because they don’t want to pay the taxes.”

[22:42] “It is important to know that there are laws that can benefit people in this country to lower their taxes.”


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Last Updated on February 6, 2024 by Bryan Anderson