Charitable Giving

We are constituted so that simple acts of kindness, such as giving to charity or expressing gratitude, have a positive effect on our long-term moods. The key to the happy life, it seems, is the good life: a life with sustained relationships, challenging work, and connections to community. - Paul Bloom

I'd like to encourage everyone to get involved with a charity or an organization you feel strongly about in your community. Whether it be with your time, money, or experience.

When making lifetime gifts, consider gifting ...

• Property that will give you personal satisfaction--you will be able to see the recipients enjoy your gift

• Property that you expect to appreciate--you'll also be removing any future appreciation from your estate

• Property that has already appreciated--if you hold on to the property, you'll be subject to estate tax on the appreciated value when you die (note, however, that your recipients do not receive a step-up in basis as they would if they received the property upon your death)

• Property owned in a different state--you'll avoid probate in that state

• Property that reduces a business ownership interest--you might qualify for a tax discount


*LPL Financial does not provide tax or legal advice. *