It’s a win-win situation for someone my age. Why sit on stock with a low cost basis that pays little dividend?
By transferring the stock into a Charitable Remainder Trust, I can increase my income (and get 6%, 7%, 8%), improve my standard of living, get a significant tax deduction, and make a nice, handsome gift to Brunswick. No one loses. I can’t understand why so few people take advantage of this opportunity.
I set up a trust that will benefit 6 different schools after my wife and I both pass away. These are schools we attended, as well as those of our children and grandchildren. I first became interested in planned giving when I was asked to be reunion chairman for my college class. I felt I would have more conviction if I had already made the provisions and provided a substantial gift myself, before asking my classmates to do the same. Now that I’ve done it, I can’t understand why many more people my age aren’t taking advantage of this opportunity.
