Can I give to Blue Lake Fine Arts Camp and receive benefits during my lifetime?
Many people believe that they can’t make a substantial gift to Blue Lake Fine Arts Camp because they have more pressing obligations, namely, providing a secure income for themselves and their family. After all, taking care of these responsibilities is your first priority. Charity usually fits in somewhere after that.
You’ll be happy to know, however, that by creatively utilizing certain assets to make a charitable gift, you can provide a life income for yourself and/or your beneficiaries. You’ll be able to take care of your primary responsibilities, satisfy philanthropic goals, and avoid or significantly reduce your tax burden.
Funding a life-income plan with appreciated property in which you face substantial long-term capital gain may enable you to dispose of the investment, protect profits, and reinvest for a higher yield. Thus you retain the full value and benefit of the income from your assets for personal income and gift purposes.
For Further Information
We would be pleased to provide you, your attorney, your accountant, or your tax advisor with additional information and assistance. Keep in mind that this information is necessarily general in nature. You should contact your own professional tax advisor to learn how it relates to your individual circumstances.
For additional information, contact Bill McFarlin at