Charitable Planned Giving

In 1 Chronicles 29, King David brought his resources for the building of the temple and challenged the leaders to follow his example and pledge their resources which included building material, jewelry, gold, silver, bronze, and similar Gifts-In-Kind. These types of gifts to SMURF, other than cash, require specific planning and responding to the tax laws which do provide significant tax breaks as follows:

Gifts of Securities:

Stocks, Mutual Funds, Notes, and similar securities can be transferred to SMURF avoiding capital gains. The donor receives a write-off at market value in the year of the gift which is tax deductible.

A new provision allows those 70 1/2 and older to transfer funds from IRAs without any taxes due and qualifies for the Required Minimum Distribution.

Gifts of Property:

Gifts of Land, Real Estate, Vehicles, Collectibles, Jewelry or Rental Property can be transferred to SMURF. In most cases, the donor receives a tax write-off based on the market value, avoiding capital gains. By a Bargain Sale, highly appreciated rental property can result in more equity to the donor even after a portion is designated to SMURF from escrow!

Gifts from Charitable Gift Fund:

You can now establish a Family Foundation without legal and accounting fees and IRS approval by entering a Mutual Fund Company Gift Trust. All donations to the foundation, in your name, are tax deductible and the investment fund you choose accumulates tax free income. You can then arrange for the Gift Fund to transfer the income to SMURF.

A professional advisor can be reached at (951) 698-7310 or at the SMURF Office at (951) 541-8574.

We have a professional team that can guide you through the Financial, Tax and Estate Planning regulations.