The holiday season is upon us and in that spirit, the focus of this week’s Lifetime Income program is on charitable giving and the passing on of a legacy to one’s heirs, specifically, how to pass on a legacy that is meaningful, will maintain family harmony, and ensure the smooth transition of intergenerational wealth. Jim begins by discussing the tax implications of making charitable gifts, as well as explaining the workings, and the advantages, of a Charitable Remainder Trust. He uses specific examples to illustrate the benefits.
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