| QUOTES from
the
Masters... |
| On Potential/Possibilities |
On Opportunities |
| "You
are capable of going on to greatness in performance -- and you are also
in great
danger of sliding back into average performance. It's your choice.
Which
do you choose to do today?" -– Tom Hopkins
"The
only limitation in your life is the limitation of your own thinking."
-– James A.
Ray
"We
spend January 1 walking through our lives, room by room, drawing up a
list
of work to be done, cracks to be patched. Maybe this year, to
balance
the list, we ought to walk through the rooms of our lives...not looking
for flaws, but for potential." -- Ellen
Goodman
|
"The
richness of life, the love and joy and exhilaration of life can be
found
only with an upward look. This is an exciting world. It is cram-packed
with opportunity. Great moments wait around every corner." -- Richard
M. DeVos
"What
have you always wanted to do but been afraid to attempt? Whatever
it is, it may be your greatest opportunity in life." -– Brian Tracy
"The
secret of success in life is for a man to be ready for his opportunity
when it comes." -– Benjamin
Disraeli
"Great
minds must be ready not only to take opportunities, but to make them."
-– Colton
|
|
Matching
Donor Goals with Charitable Gifts:
There are a variety
of charitable giving techniques that can be matched with a donor's
goals
in making the gift. These include:
|
Charitable
Planning Goal
|
Charitable
Giving Technique
|
The Outcome
|
| A quick and
easy
gift |
An outright
gift
of cash, securities or personal property |
Income tax
deduction
and possible avoidance of capital gains taxation |
| A large gift
with
little cost |
Name a charity
as
owner and beneficiary of a life insurance policy |
Current income
tax
deduction equal to value of policy; possible future deductions for
premiums |
| Avoid capital
gains
tax on the sale of an appreciated asset |
Donate real
estate,
securities or other appreciated assets |
Current income
tax
deduction and avoidance of capital gains tax |
| Make a
charitable
donation after death |
Name a charity
in
your will or establish a revocable living trust |
Control of
property
during lifetime and possible estate tax savings |
| Donate
personal
residence, but continue to live there |
Donate
ownership
of the home to a charity, but retain the right to live there during
lifetime
(retained life estate) |
Charitable
income
tax deduction and lifetime use of home |
| Avoid the
double
taxation (income and estate) of retirement plan assets |
Name a charity
as
beneficiary of retirement plan assets remaining at your death |
Avoids passing
a
heavily taxed asset to heirs; removes remaining value from estate |
| Receive a
fixed
income from assets |
Create a
charitable
remainder annuity trust that pays a fixed annual income |
Immediate
income
tax deduction and fixed income for life |
| Receive a
potentially
increasing income from assets |
Create a
charitable
remainder unitrust that pays a percentage of trust assets, which are
valued
annually |
Immediate
income
tax deduction and potentially increasing income for life |
| Reduce gift
and
estate taxes on assets passing to heirs |
Create a
charitable
lead trust that pays income to a charity for a set term and then passes
to heirs |
Current income
tax
deduction and potential gift and/or estate tax savings |
| Supplement
income
from assets |
Transfer
assets
to a charity in return for a lifetime income (charitable gift annuity
or
pooled income fund) |
Current income
tax
deduction and lifetime income |
| Maintain
control
over how donated funds are used |
Donate assets
to
a donor advised fund or set up a family foundation |
Current income
tax
deduction and take an active role on how donated is managed and
distributed |
Whatever your
reasons
for giving, matching your charitable planning goals with the
appropriate
charitable giving technique can help make your gifts more meaningful,
both
to you and to the charities you choose to support. Please call my
office if we can be of assistance.
|
| MESSAGES
from
the Masters... |
THE
POWER OF OUR DREAMS by Dr. Philip E. Humbert
Our
heroes have always understood the power of dreams, even when their
dreams
were delayed or frustrated for long periods of time. They never game up!
Henry
Ford went bankrupt before creating the Model T. Peekaboo Street fell
and
failed and even broke bones before winning Olympic medals. Thomas
Edison failed thousands of times before fulfilling his dream of an
electric
light, and Abraham Lincoln failed too many times to count before
becoming
the greatest President America has known.
Imagine
Helen Keller without her unrealistic dream! Pop culture would be very
different
if Tina Turner had lost her dream when she was slapped down, or if
Oprah
had given up along the way.
Martin
Luther King, Jr. is remembered for many things, but none has been more
lasting or more powerful than his proclamation that, "I have a
dream!"
Never,
ever stop dreaming! Some dreams will prove elusive, and some will prove
disappointing. Some may seem misguided and need to be revised, revamped
and revisited. But it is our ability to dream of new and better worlds
that makes us human. Our dreams empower us! Our leaders and heroes have
always been pulled by their visions, their dreams of possibilities that
lie around the corner, just out of sight, but not out of reach. Dream
big
dreams!
|
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don't want to add to your e-mail clutter! If you do not enjoy
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The purpose
of this newsletter
is to provide information of general interest to our clients, potential
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general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
|
