All of us here at Compassion & Choices hope that you and your family are safe and secure during this challenging time. In talking with Compassion & Choices donors over the past several weeks, I have found many are devoting time to reviewing their estate plans and ensuring that their financial end-of-life plans are in place and up to date. If you are one of these people, I want to make you aware of new rules pertaining to philanthropic giving and offer my services via a phone or Zoom call. I can help you identify options that may provide a significant tax deduction, tax-free income and even guaranteed income for life through a planned gift. The CARES Act has authorized the following new provisions:

• INDIVIDUALS who ITEMIZE on their taxes previously were limited to deductions of up to 60% of their adjusted gross income. You can now deduct 100% of your adjusted gross income, and excess contributions can be carried over for the next five years.
• INDIVIDUALS who take the STANDARD DEDUCTION are now also eligible for a charitable deduction of up to $300 to a qualified charity.
• The CARES Act also suspends the required minimum distributions (RMD) from your retirement accounts for 2020; the SECURE Act also authorized you to contribute to your IRA past the age of 70-1/2, changed the RMD age from 70-1/2 to 72 and eliminated the non-spousal beneficiaries stretch provision for withdrawals over their lifetime.

Compassion & Choices offers a full range of planned giving options including creating a gift through charitable gift annuities, charitable remainder trusts, charitable lead trusts, life insurance, real estate, IRAs, wills and living trusts. Explore which of these options could help you support our important work. For over 25 years, I have been advising individuals on charitable giving, and I’m here any time to assist you with your planning needs. Please call me at 800.247.7421 x2152, or reply to this email, to discuss how you can support Compassion & Choices through a planned gift.

SamSamuel B. Young, ESQ-LSW
Planned Giving Advisor
Compassion & Choices 

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