When you need an outside expert
In many circumstances, it can be appropriate for someone who currently receives payments from a life income arrangement to make a charitable gift of his or her interest in the remaining payments. The arrangement in question could be a charitable remainder trust, a gift annuity, or a pooled income fund.
When is an appraisal necessary?
If the resulting income tax charitable deduction will be more than $5,000, the donor will need to obtain a qualified appraisal of the life income interest. Furthermore, the appraiser (and the charity) will need to sign IRS Form 8283, which the donor will then submit with his or her income tax return.
Who can provide a qualified appraisal?
The appraiser must not only be independent of both the donor and the charity, but also meet many other requirements. Selected members of PG Calc's staff are able to fullfil these requirements, and for several years now we have been providing qualified appraisals.
Why hire PG Calc to provide a qualified appraisal?
As part of our discussion about appraising a life income interest, we can help determine whether it would even make sense for the life income interest to be contributed to charity, either on an outright basis or perhaps to establish a new life income arrangement.
Our fee for an appraisal depends on a number of factors but can be as low as $175. For further information or pricing, please call PG Calc toll free at 888-497-4970 or send an e-mail.
