LIFETRUST STEPS
- Step 1 - Complete the LifeTrust pooled income form naming your income beneficiaries and preferred charities*
- Step 2 - Donate cash or appreciated assets to the LIFETrust**
- Step 3 - Claim your income tax deduction ***
- Step 4 - You and/or the people you select collect income for life ****
- Step 5 - Upon death, balance goes to the public charity you select or a donor advised fund.
The Fine Print
* Read the pooled income fund disclosure statement which we will provide. Consult with your financial advisor or ask us questions.
** The donation is irrevocable. Donations of nonpublicly traded assets must be approved.
*** Only the charitable remainder portion of the donation is deductible. A portion of your donation is retained by Forward Giving, Inc. (FGI) equal to 10% of your assumed charitable benefit for FGI's current operations. This amount is also fully deductible. Charitable contributions are subject to Internal Revenue Code limits.
**** Income payments are made to the individuals selected in your LIFETrust donation form. The income beneficiary designation is irrevocable except by will. Income beneficiaries receive a Form K-1 each year showing the amount and nature of their taxable income. 5% of the annual income is paid as a structuring fee.
Let us show you how a LIFETrust pooled income fund can benefit you and those you care about!
The site provides educational information. It is not professional tax or legal advice. Consult with your own professional advisor.