“Outright gifts” include gifts of cash, appreciated securities, closely-held stock, real estate, personal property, life insurance, trust income, and gifts through a charitable lead trust. These “outright gifts” are current gifts that you can make today.
Cash gifts are the most common form of giving and are as easy as writing a check. Every dollar you give outright is eligible for the charitable income-tax deduction.
If you have marketable securities that have grown in value, you can make a significant gift at a low after-tax cost, including the avoidance of capital gain tax.
If you own a closely-held corporation it is possible to receive substantial benefits by making a gift of your stock.
The benefits available for gifts of appreciated real property such as undeveloped land, farms, or personal residences are almost identical to those for gifts of appreciated securities.
You may have “hidden” assets such as antiques, paintings, and other “collectibles” that can make a great gift. In many cases, the same benefits apply to these gifts as apply to securities and real estate.
Life insurance policies that are no longer needed can be valuable assets for giving. You can name M&G the beneficiary or transfer actual ownership of the policy to us and continue to pay the premiums. By so doing, you can gain an immediate tax savings and be entitled to additional tax deductions for the premiums you pay in future years.
It is possible to contribute merely the income from securities or other property temporarily and receive income tax or gift and estate tax benefits. While the trust is in force, the trust income is used to fund your gift. At the termination of the trust, the property either comes back to you or goes to a family member or other beneficiary.
If you are the beneficiary of a trust, you can transfer your income interest to M&G and receive an income tax deduction. You can transfer your entire life income interest or a fraction (one-half, one-tenth) of your income interest.