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Charitable Lead Trust
(A Charitable Way to Pass Assets to Heirs)
How it works
- You contribute cash, securities or other property to a trust.
- The trust makes fixed annual payments to the American Red Cross for a specified term of years.
- When the trust ends, the remaining principal goes to your heirs.
Benefits
- You qualify for a gift tax deduction for the present value of the annuity payments to the Red Cross.
- The annuity payments and the term of the trust can be specified in such a way so as to reduce or even eliminate the transfer taxes due when the principal reverts to your heirs.
- All appreciation that takes place in the trust goes tax-free to your heirs.
- You can use your available estate tax credit ($2.0 million per person beginning in 2006) to further reduce taxes on transfers to your heirs.
- You can have the satisfaction of making a significant gift to the Red Cross now that reduces taxes due to transfers to your heirs later.
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2011 Annual Report
The GCCARC 2011 Annual report is available for download
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Will you know what to do when "what if" becomes "what now"?
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The Tiffany Circle of the American Red Cross of Greater Cleveland is a powerful leadership network of women who want to change lives, save lives, and strengthen their communities through a focused investment of their time, talent, and treasure.
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Services to the Armed Forces has provided humanitarian support to the United States military, veterans and their families under a trusted symbol for almost 130 years.
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