Life Stage Gift Planner™

 Over Age 65

Cash, check, and credit card
A gift of cash is easy to make, and the gift is not subject to gift or estate tax. A contribution of cash or by a check that is postmarked in December is deductible for that tax year—even if Pennington receives it in January—provided the account against which the check was written had sufficient funds to cover it in December. A contribution by credit card must be made by December 31 in order to be deductible for that tax year.

Charitable remainder annuity trust
Provides for payment of a fixed-dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5% of the initial fair-market value of the trust.

Charitable bequest
If you would like to make a substantial gift for Pennington but you do not have the current disposable income or assets to do so now, consider a charitable bequest.

Real estate—retained life estate
Give property to Pennington while retaining the right to occupy the residence or operate the farm.

Gifts of retirement plans at death
Retirement-plan benefits left to heirs are often more highly taxed than other assets. Consider giving them to Pennington instead to make a meaningful gift and leave other assets to heirs.