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Determining the purpose of the gift is
the first step in your decision-making process. If you want
charity to have immediate use of, enjoyment of, and access
to the donated property, you should make an outright gift
to the charity. An outright gift also produces a larger
charitable tax deduction because the charity has the immediate
and full use of the entire gift rather than a remainder
interest at a future date. If your goals are to provide
yourself and others with an enhanced lifetime income, current
income tax deductions, and federal estate tax planning while
benefiting charity at a later time, you should consider
a Charitable Remainder Trust. |
