Practical Legacy Planning Webinars and Other Tips
Your 2021 Giving ChecklistRequired Minimum Distributions are back in 2021
The CARES Act hit the pause button on RMDs in 2020, but that is not the case for 2021. You can give a portion or all of your RMD to charity and avoid paying income tax. If you're planning to send a gift from your IRA to Augustana, please let us know when it's on the way so we can be sure apply your gift to your intended area of support.
Give at least $300 to charity
The CARES Act includes a provision that allows individuals to deduct up to $300 ($600 for married couples filing jointly) in charitable giving in 2020 and 2021, regardless of whether or not they itemize their deductions or take the standard deduction. Make a gift to Augustana here.
Check your beneficiary designations
No one likes an accident, especially accidentally giving money to someone you didn't intend to. Review the beneficiaries of your investment accounts, life insurance policies, etc., annually to make sure they are the people and places you still want to benefit from your generosity.
Consider giving away appreciated assets, like stocks or bonds
While it has been a roller coaster of a year, many people are finding their stock portfolios in great shape. If you're one of them and are looking to avoid some eventual capital gains taxes and give a tax deductible gift, consider giving that appreciated stock to a charity, like Augustana.
Webinars
Legacy Planning 101 (updated in June 2021)
In Brief: 2018 Tax Law Update
Charitable Gift Annuities: Give a Gift to Augustana and Receive Guaranteed Income for Life
If you would like to discuss any of these things with Sam Schlouch from Augustana, schedule a meeting, send him an email or give him a call at 312-448-6285.
