Carolyn spent many years volunteering and supporting United Methodist Women. She wanted to give back in a way that would help fulfill its mission. At the same time, she was looking for a way to care for her family in the future.
Carolyn: My husband and I had heard that with new lower rates, now is the best time in years to set up a charitable lead trust. We could fund the trust with cash or stock and this trust would pay income to United Methodist Women for a number of years with the rest of the trust value going to our children in the future.
Carolyn: We liked the fact that our children would be well cared for and that we could see the result now of our gifts to United Methodist Women. So we made all our arrangements before my husband's death recently.
Carolyn and her husband were also pleased to learn that taxes on the gift to their children would be significantly reduced by the added benefit of a gift tax charitable deduction. After the income was paid to United Methodist Women, the remaining trust value would go to their family with very little tax owed.
Carolyn: He and I found that by using a charitable lead trust we could accomplish our goals of helping both family and United Methodist Women during our lifetimes.
*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to United Methodist Women.