Estate Planning Help in Chicago, Illinois
Chicago Estate Attorney Donald Thompson
Illinois Estate Planning News

Charitable Deduction

Charitable Deduction

15 07.08

There is allowed as a deduction from the taxable estate any gift to a
         qualified group organized and operated exclusively for religious, charitable, scientific, literary or educational
purposes. A gift to a trustee for the benefit of any such organization also generates the deduction. A gift of a
remainder interest also generates the deduction. A gift of a
remainder interest also qualifies. For instance if you will
assets to a trustee on your death to be held for the benefit of your spouse while he or she is alive and then to be paid to a charity. The value of that interest at the time of your death is deductible. Actuarial tables provided by IRS are used to make the valuation.
Contact Donald Thompson Today.

About the author

donthompson -

Currently there are no comments related to this article. You have a special honor to be the first commenter. Thanks!

Leave a Comment