Suggested types of property to give

• Publicly traded securities (stocks, bonds, mutual funds)

  Especially if they have appreciated in value since purchase. You can usually avoid paying capital gains taxes.

• Real estate

  Your home, farm, rental property, or undeveloped land.

• Life insurance

  Maybe you purchased a policy when you were younger. Your family situation has changed and the policy is no longer needed for your family’s financial security.

• Retirement plans (Individual Retirement Accounts, 401(k), 403(b), Keogh plans, etc.)

  These plans defer income taxes. However, giving them to anyone other than your spouse or charity will incur federal and state income taxes as well as any estate tax.

• Cash

  Certificates of deposit, money market accounts, especially if they are earning at low interest rates.