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Phil and Alicia had a successful
business developing both residential
and commercial real estate. They realized
that their assets provided more income
than they need for their family's
current living expenses; however,
they wanted to maintain their assets
to ensure their grandchildren would
have resources for college educations.
One of their first charitable gifts
had been a gift
of appreciated stock. They discussed
their circumstances with their financial
adviser who showed them how they could
make a charitable gift now and be
able to enjoy seeing the results while
they were still here.
 Phil:
"It really has been a wonderful
ride. When we first started developing
residential housing, we had no idea
where it would all lead. We were fortunate
to make some choices that really set
up the company for success. It's grown
beyond our wildest dreams."
Alicia: "We have been able
to provide a wonderful home for our
children, but they are off on their
own now with their own families. While
the company has grown, our immediate
needs have shrunk."
Phil: "Not too long ago,
we sat down with our kids and our
advisers and talked about what was
important to us and what we really
wanted. Our kids are all doing fine
on their own. We certainly don't need
more. Our attorney told us about something
called a charitable lead trust funded
with some of our excess assets."
Alicia: "It sounded great
to us - some tax benefits and our
estate remains intact for our grandchildren's
education. While we are helping to
make a difference in other people's
lives, we're able to do it while we're
here and can be part of it. It really
feels good to see firsthand how the
income from the trust can really make
a difference ."
 Phil
and Alicia wanted to contribute $250,000.
They placed a sufficient amount of
income producing commercial property
into a Charitable
Lead Trust (CLT) that would make
annual payments of $25,000 over ten
years. This will provide the charity
with $250,000 in total and after 10
years, the assets will pass to the
donor's heirs. Because the gift tax
deduction and the amount subject to
gift tax is determined at the time
the assets are contributed to the
CLT, any appreciation of the assets
that takes place during the term of
the trust is not subject to additional
gift or estate tax.
As we said earlier, there are as
many ways to support The Foundation
of FirstHealth, Inc. as there are
needs for your support. Please contact
us should you have questions or
if you would like to discuss your
personal circumstances to see how
you can enrich your heart and the
lives of others as many others already
have. The next
page has some final thoughts.
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