Are you looking to maximize the impact of your giving? Consider using complex assets to leave a legacy that supports your favorite charities and causes for years to come.
Complex assets refer to non-cash assets such as real estate, privately held stock, and business interests. While donating these assets can be more involved than just writing a check, they can provide significant tax benefits and ultimately create a larger charitable impact.
To get started, follow these steps:
- Consult with your financial advisor and tax professional to determine which complex assets are best suited for your charitable goals. Don't have a financial advisor? We’re happy to help you locate one in your area.
- Contact Cole Eason at Truman Heartland Community Foundation to discuss the process of donating complex assets. He can help guide you through the process and answer any questions you may have.
- Work with THCF to create a plan for your donation. This may involve selling the asset and using the proceeds to create a charitable fund or donating the asset directly.
- Consider naming your charitable fund or endowment after yourself or a loved one to create a lasting legacy that will continue your giving for generations to come.
By donating complex assets, you can make a significant impact on the causes you care about while also maximizing tax benefits for you and your heirs. Consider this option for your legacy giving and see the difference it could make in your legacy plan.
