CHARITABLE REMAINDER TRUST A “WIN-WIN”

My feelings grew rapidly into the warm satisfaction of knowing I had done the right thing. I have since had absolutely no regrets.

donor-woman-horseLast year, I made the decision to part with my long-held stocks. It was a decision made late in life – at age 84 – with the hope of relieving the tax burden the stock was placing on my income.

I had a choice: I could sell the stocks on the market and pay capital gains tax, or I could give them away and declare the gift as a tax deduction and avoid paying capital gains tax.

It was suggested to me by my very competent financial advisor that I consider disposing of the stocks through a charitable remainder trust. This meant that the stock would be held in a trust for the charity of my choice. An agreed-upon percentage of the stock distributions would be paid to me periodically for the rest of my life. The gift itself would also serve as a tax deduction which could be carried over for up to five years. After my demise, the stocks and their distributions would become the property of whatever charitable organization I selected.

As someone who has long had high regard for the work of San Diego Humane Society, I immediately thought of that organization and the animals they serve as the ultimate beneficiary of these stocks. The decision to put the stocks in trust for the Society left me with an unexpected inner glow which no mere sale of the stocks would have engendered.

My feelings of relief after making the decision grew rapidly into the warm satisfaction of knowing I had done the right thing. I have since had absolutely no regrets. The move resulted in win-win situations for me, for the Society, for the animals, and for the future, because even after I am gone, that act will reach out to help the Society in its many efforts on behalf of San Diego’s unfortunate animals.

I am grateful to San Diego Humane Society for making the transition of stocks an orderly, professional and friendly experience. I hope others who are facing the dilemma of disposing of any properties or securities will favorably consider the gratifying act of transferring them to San Diego Humane Society through a charitable remainder trust.