First Unitarian Church of Providence
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split-interest gifts

These types of gifts can be structured in many ways, usually through wills, trusts or deeds. The purpose of "splitting the interest" is that during your lifetime, or the lifetime of someone you designate, you or your designee, retain(s) the benefit of an asset. Upon your passing, or the passing of your designee, the benefit of that asset is given to a new designee. For instance, using an investment account, you could retain the right to all of the income of the account, but stipulate that, upon your passing, the investment account would go to the church.

Get started: Because these gifts can be structured in different ways; involve deeds, trusts or other legal concepts; and because of the interplay of tax laws, the best advice is to seek good legal and tax counsel to evaluate your options.

Disclaimer: The information provided here is intended to help you think about and evaluate your estate planning options when it comes to charitable giving. You should seek professional advice from an attorney or estate planner of your own choosing in preparing your actual estate plan. Material provided by Paul Brule, Esq. Walsh, Brule & Nault

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