Death and Taxes
They (whoever they are) say that only two things are certain in life: death and taxes. You also could say that’s the theme of this edition of Legacy.
First taxes. There is a lot of talk in Washington about the new tax law’s short and long-term implications. Frankly, I’ve never spent so much time just trying to sort through the back and forth rhetoric. But at least two things are certain — (1) the new law affects the charitable gift tax benefit for many Americans and (2) there are still impactful, viable, and tax-smart strategies available to make both nominal or extraordinary charitable gifts.
Next death. Although the subject is daunting, it is unavoidable and usually unpredictable. And when it comes to estate planning, “too late” is not reversible. That is why there is no time like the present to act on the potential future issues of an estate plan that are highlighted in the accompanying “Planning for the Future.”
While the inevitability of death and taxes are real, and usually difficult to discuss, proper estate and tax planning delivers more certainty, trust, and positivism in a world that often seems characterized by very little of those qualities.
Read on to learn more.
Sincerely,
Marguerite C. Johnson ’61
Senior Vice President and Chief of Staff |
