As an alternative to a direct bequest, you may wish to consider establishing a charitable remainder trust during your lifetime or through your estate plan. These trusts provide tax advantages and will provide income for you or other beneficiaries while also benefiting the Florida State Golf Association.
A charitable remainder trust names one or more beneficiaries for life or for a term of years, after which time the assets go to the FSGA.
How it Works
- Donor transfers cash or securities into trust
- The trust pays a percentage of its income to you or your beneficiaries
- When the trust ends, the remainder goes to the FSGA
Donor Receives
- Donor or Beneficiaries receive income
- Asset segmentation and preservation
- May be created for a specific term of years or the life of the donor
- Funds to be manged by the donor's investment management company
- You may make additional contributions to the trust in future years
Tax Savings
- Receive an immediate income tax deduction for a portion of your contribution
- Value of trust assets at death generally deductible from estate for tax purposes
- Capital gains tax bypassed at time of funding
The FSGA Receives
- The FSGA receives a substantial gift when the trust terminates.
- Knowledge of the gift helps the FSGA in planning to meet future needs.
