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May 16, 2003     Heritage Florida Jewish News
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H. ERITAGE FLORIDA JEWISH NEWS, MAY 16, 2003 PAGE 3S II II I I A charitable trust can potentially make your money earn ~ore, provide you with a tax savings and offer support to your vorite charitable institutions making life better for all to ~ today and tomorrow. Learn more by calling Damon J. dley at TOP Jewish Foundation, 407-277-5413. Would you give to charity if could also improve income f r Yourself and/or for others, enjoy a current income tax savings and avoid capital gains taxes on sold appreciated as- sets? An irrevocable charitable remainder trust (CRT) through Tampa Orlando Pinellas Jewish Foundation, Inc. provides these benefits more! There are two basic types of charitable remainder trusts - the annuity trust and the Unitrust These two are simi- lar in many respects. If You are the donor: you are not taxed on the capi- tal gain. And your deduction for a gift funded with long- term securities is based on their full fair market value - not their lower cost basis. If you, or you and your spouse, are the only income recipients, the value of the trust will not be taxable for federal estate purposes. When you create a chaff- table remainder trust, you choose the payout rate that determines your return. Here's how this applies to the two basic types of trusts. With an annuity trust you by multiplying the fair market value of the trust assets, as re- valued each year, by a fixed percentage. Say a 65 year-old man is married and wishes to earn some income during his life and subsequently for his wife if she survives him. He has $100,000 in blue chip stocks yielding current dividends av- eraging 2 percent a year. Look- ing forward to retirement, he would now like to reinvest for a higher return. The man de- cides to establish a unitrust and transfers his stocks to the trust, which will pay him 7 percent of the fair marketvalue of the trust assets each year. If his wife survives him, she will receive payments in the same manner. The man understands that the market value of the trust could decline; but based on past experience, he believes that over the years a portfolio of high-quality diversified stocks will appreciate in value, tending to offset future price inflation. When you itemize deduc- tions, you get an income tax charitable deduction in the year you create an annuity trust or unitrust. The deduc- tion is for the value of the charity's right to receive the trust remainder after your life- time, as determined by official The trust must first pay a receive a fixed sum each year, U.S. Treasury tables. tlo~v of income to you and/or which can be either a dollar As noted earlier, a gift of ~Yotherindividualyouname; amount or apercentage of the appreciated securities can as- termination, all assets of net fair market value initially sure even more valuable tax hetrust must pass toaquali- placed in the trust. For ex- savings because you avoid any I!.ed tax-exempt organization ample, a widow aged 70, has incometaxonthecapitalgain. uke TOP Jewish Foundation. $100,000 in a money-market The 65 year-old man did enjoy You receive an income tax account currently yielding a tax deduction for a percent- Charitable deduction forapor- only I percent. So she creates ageofthe full fair marketvalue i nofthefairmarketvalueof an annuity trust into which of his gift of long-term stocks ~e. assets placed in the trust, she deposits these funds, ar- realizing another important ,a!s depends on the number ranging to receive 6 percent tax benefit. If he had sold the lagesoftheincomebenefi or $6,000 each year, generat- stocks insteadofcontributing aries, the pay-out rate, the ingherincome from the funds, them to his new unitrust, he equency of payment and the The widow likes this plan be- would have paid an enormous . l Plicable federal midterm cause she knows she will re- tax on the capital gain. Their ! terest rate. The income tax ceive the same amount for the costbasisis$30,000,compared Vings reduce the net cost of rest of her life, regardless of to their market value of r gift and improve your changing interest rates and $100,000, which would have Ctive rate of return, stock market fluctuations, resulted in a gain of $70,000. en you use appreciatedWith a unitrust, you receive At a federal capital gains rate Securities to fund the trust, paymentseachyeardetermined of 20 percent, the tax of CI) technology improves hearing ,83, Prairie, Minn started hearing in the early "We knew there was a because he was hav- a hard time making out when ' Spoke quietly, or when he In a loud place," said Dennis. former Presi- Clinton, Homeland Director Tom Ridge, talk show host Rush suffer from some form loss. Doctors believe and chronic ex- the problem. matter what the cause, the inner ear can't a world of softer, less "said Brian Bender, for Interton, a Minn. based com- '/at manufactures and shopping for a hear- to choose from, analog de- the continuous ~ork well, but not as well as digital devices, which suchastalkingonthephone, or can be fine tuned to the exact hearing what people are saying level of hearing loss the patient at anoisy hockey game.Volume has," said Bender. "Digital also control is another important offers cleaner, crisper sound feature to consider."Consum- and a wider range of features." ers tellus that's something they There are dozens of digital need," said Bender. hearing aids on the market to- Freiheit decided to "go digi- day. So how do you knowwhich tal" at the urging of his son. He one is right for you? Once you now wears an EVO twin with haveahearinghealthcarepro- dual microphones for direc- viderassessyourspecifichear- tional hearing. The device is ing needs, he or she will make manufactured by lnterton. a recommendation. There are Digitalhearingaidsareavail- numerous manufacturers, able in four different styles, many of whom produce hear- completely in the canal, in the ing aids with comparable fea- canal, in the ear andbehind the tures. With no shortage of ear. Freiheit's is a canal type. brands to choose from, don't "They all work well," said hesitate to ask for a hearing aid Bender."The one you decide to with the best value versus fea- go with is a matter of personal tures, preference." Check to see if the device is Signs and Symptoms of equipped with feedback man- Hearing Loss May Include: agement. If it is, sounds can be Muffled quality of speech amplified to a higher volume and other sounds with less feedback. The ability Difficulty understanding to constantly measure for noise words, especially against back- control is also important. Digi- ground noise or in a crowd of tal aids can raise the volume of people asoft, high-pitchedsound, such Asking others to speak as a whisper, while simulta- more slowly, clearly andloudly neously keeping a loud, low- The need to turn up the pitched sound, such as a truck volume of the television or ra- driving by, ata comfortable level, dio Multipleprogramsettingsare Withdrawal from conver- also handy.Theyallow the hear- sations ing aid to be customized for Avoidance of some social different listening situations, settings $14,000 would leave him only $86,000 to reinvest. Your interest in the chaff- table remainder trust reaps substantial benefits for you and your heirs. At the same time, you enjoy the heartwarming satisfaction of you commit- ment to our future work. We can help you and your advi- sors pick the plan that best fits your personal situation. There is no obligation, of course. TOP Jewish Foundation is a partnership of three Jewish communities whose goal is to provide permanent resources through the development of endowment to improve the quality of life in the local com- munities, Israel and through- out the world. Established in 1980, the Foundation is a 509(a)(3) and 501(c)(3) organization that has pooled hundreds of pri- vate donor contributions for investment providing strong earnings available for distri- bution. Through donor-des- ignated grants, the foundation contributes to both Jewish and non-Jewish charities for a broad range of social, cultural and educational initiatives. One phone call is all it takes to learn more about ways to increase cash flow, decrease current income tax burdens and gain the satisfaction of strengtheningthe communit3, through its charities. TOP Jewish Foundation Orlando Director Damon J. Bradley at 407-277-5413. Real Homes.:. Not Institutions. OPENING SOON IN LAKE COUNTY! Five Locations in the Orlando Area Only 5 residents live in each home Emphasis on each individual's interests w Professional caregivers 24 hours a day Lovely Orlando neighborhoods Short term care available Safe and secure (407) 740-8815 www.suttonhomes.com Alzheimer's Care Specialis~,s ALF #8259 ~, bri~ing Judaism to your interfaith grandchildren