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UTUSN

(70,722 posts)
Fri May 15, 2020, 09:20 PM May 2020

Hypothetical: What public service/charity would be a beneficiary in a Will & how?

My first thoughts would be: Planned Parenthood, Southern Poverty Law Center. Something local - education or Democratic political?

If property might be involved partly, it seems they would prefer that it be sold with the donation later in cash? Instead of *their* taking on the property to dispose of?






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Hypothetical: What public service/charity would be a beneficiary in a Will & how? (Original Post) UTUSN May 2020 OP
No kids, so..all set up MLAA May 2020 #1
We're on the same wave length. Hospitals, scholarships good additions. UTUSN May 2020 #2
ACLU ? dweller May 2020 #3
Good one. UTUSN May 2020 #4
I gave a farm away to Population Connection - no problem, didn't have to sell it first progree May 2020 #5
*Very* informative, thanks! UTUSN May 2020 #6

MLAA

(17,314 posts)
1. No kids, so..all set up
Fri May 15, 2020, 09:26 PM
May 2020

1/2 to some nieces and nephews that all but one will likely blow in a year. 1/4 to Southern Poverty Law Center and 1/4 to Scottish Rite Children’s Hospital. All personal property to a friend to dispose of how she wishes.

You’ve got me thinking about trimming back the nieces and nephews to 1/4 another quarter to a charity for scholarships to underprivileged.

progree

(10,911 posts)
5. I gave a farm away to Population Connection - no problem, didn't have to sell it first
Fri May 15, 2020, 10:52 PM
May 2020

they did the marketing and selling of it. (Full disclosure: I got a charitable gift annuity in return).

they have also had houses donated to them.

If the property is stocks, bonds, mutual funds, ETFs, that's even easier, they'd love that, very little work on their part. The donor doesn't have to pay capital gains taxes, and neither does the charity.

(Whereas if the donor sold the property first and donated the cash proceeds, the donor would have to pay any capital gains taxes, so is better to give the property away instead of cash).

If you are getting old and having to take Required Minimum Distributions (RMDs) on your IRAs, consider Qualified Charitable Distributions (QCDs) - it's a way to satisfy one's RMD requirements and nobody pays taxes.

If property might be involved partly, it seems they would prefer that it be sold with the donation later in cash? Instead of *their* taking on the property to dispose of?
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