Life income gifts convert assets to income for you and the Lucy Robbins Welles Library.
A life income gift is a very special way of giving. A highly effective way to contribute assets to the Lucy Robbins Welles Library, it also allows you to keep an income for yourself and others.
The Lucy Robbins Welles Library offers a full range of federal-tax-law-compliant, life income gifts. Your age, assets, and income objectives will help you to determine the best option. The types of life income gifts offered through the Library are the charitable remainder trust and charitable gift annuity.
Benefits of Life Income Gifts
- No immediate capital gains tax on gifts of appreciated property
- Immediate income tax savings
- May increase your current income by converting low-yield assets
- Removes assets from your taxable estate
- Can diversify how large holdings of assets are invested
- Ensures assets are professionally managed
- Remaining assets of the trust will provide long-term benefits to the Lucy Robbins Welles Library
If you need any assistance, please contact the Library Director in the Administrative Office by calling 860-665-8724, or email the Library Director, or write to us at 100 Garfield Street, Newington, CT 06111.