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Compass F inan ce
In a season of giving, we focus the radar on the tax
implications of charitable giving and how you can
best structure your estate. Zachary “Zak” Mann of
Coastal Wealth offers a quick overview for every
T E X T BY Z AC H A RY “ Z A K” M A N N
IRA CHARITABLE ROLLOVER: Must be over age 70.5 at time of
gift and cannot exceed $100,000 per tax year. Distribution not
included in income; you don’t have to itemize (no deduction);
counts toward current year Required Minimum Distribution.
DONOR ADVISED FUND: Your donation to the fund is an
irrevocable charitable donation credited to a charitable gift account
from which you may recommend the timing and amount for grant
PRIVATE FAMILY FOUNDATION: A Private Family Foundation is
usually part of a comprehensive giving strategy for high net worth
donors. This structure allows you to make tax-deductible charitable
contributions and retain significant control over the giving process,
while providing an opportunity to start a multi-generational legacy
LIFE INSURANCE: The premium payments you make on a life
insurance policy owned by your favorite charity could result in
your charitable gift becoming more valuable than an annual cash
contribution of the same amount.
OTHER OPTIONS: Additional common strategies include Charitable
Gift Annuities, a Charitable Remainder Trust (CRT) or a Wealth
Replacement Trust. Contact a trusted financial advisor for more
details and information.
ABOUT THE AUTHOR
› Wealth who “Zak” strives Mann to help is a Financial Advisor their with financial
his clients meet
goals, estate strategies and insurance needs. He also advises
on a full range of charitable planning options and strategies;