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Understanding Planned Giving

Henry Vail II

Specializing in services for medical doctors, Henry E. Vail II offers comprehensive wealth management. To complement his practice, Henry Vail II affiliates with a variety of professional organizations, including the Planned Giving Council of Houston.

Planned giving goes by many names, including “gift planning” and “deferred gifts.” These terms essentially refer to a contractual promise to make a gift to an individual or organization at some point in the future. An example is a bequest stipulated in an individual’s will. Planned giving can include virtually any type of asset, from stocks or real estate to cash.
Planned giving commonly offers immediate benefits to the giver beyond a sense of altruism. For instance, if a person donates a home that she purchased for $40,000 in 1990, and the home is worth $180,000 today, the individual may deduct the current value ($180,000) from her taxes without capital gains taxation.
Likewise, a donor can set up a charitable gift annuity to receive immediate tax benefits for the donated amount as well as an income from the annuity for life. Upon the donor’s death, the remainder of the annuity transfers entirely to the charity.

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