{"content":[{"text":"7","bbox":{"left":0.041295,"top":0.026316,"width":0.009882000000000002,"height":0.018545}},{"text":"BALANCE Newsletter • June 2021","bbox":{"left":0.674806,"top":0.02466,"width":0.289411,"height":0.019167000000000003}},{"text":"Gifts involving Annuities \n You can buy an annuity and then use a portion of the \n annuity payments to pay premiums on a life insurance \n policy assigned to a charitable organization. You'll receive \n charitable tax receipts for the premium payments. \n Remarkably, with this charitable insured annuity plan, your \n income may increase. It is even possible to structure the \n gift so that both the charitable organization and your heirs \n receive a return on the investment by using the increased \n income to fund the premiums on a life insurance policy \n naming your heirs or your estate as the beneficiary.","bbox":{"left":0.029412,"top":0.096197,"width":0.459622,"height":0.204736}},{"text":"receipt for the present value of the charitable entity's interest \n which will offset taxes on your income. In addition, you \n may continue to use the property or receive income from \n it. At the end of your lifetime, the property may be sold \n and the proceeds will support programs and services of \n the intended charitable organization, as you have directed. \n The answer to which planned giving vehicle is most ap- \n propriate for you must be assessed in light of your goals, \n your financial abilities and your creativity. Consultation \n with professional advisors (lawyer, accountant, financial \n planner) and the associated Planned Giving Manager \n of the intended charitable or non-profit organization will \n ensure that the right gift plan is chosen for you.","bbox":{"left":0.509797,"top":0.097554,"width":0.45849000000000006,"height":0.23641699999999996}},{"text":"Life Insurance \n Through relatively small life insurance premiums, you \n can provide a legacy of support. If you assign a new or \n an existing policy to a charitable organization, you will \n receive a tax receipt for the value of the policy and for \n subsequent premium payments. Insurance proceeds \n are contractual in nature and do not fall within your \n estate, thus, you can avoid probate fees and other \n taxes. Alternatively, you can designate a charitable \n organization as the beneficiary of the policy and a tax \n receipt will be issued to your estate.","bbox":{"left":0.051471,"top":0.340666,"width":0.39015099999999997,"height":0.216916}},{"text":"About the Author: Mr. Kramer, Q.C.’s, law firm, KMK Law, provides specialized legal \n services in the areas of Wealth Management, Estate Planning, Estate Litigation \n and Mediation. Mr. Kramer Q.C. is also involved extensively in both his community \n and the legal profession, having served on numerous Boards and Committees over \n his 25 year legal career. Currently, Mr. Kramer Q.C. serves as a Board Member with \n the Vancouver Airport Authority (“YVR”), Vice Chair of the Board of the College of \n Chiropractors of British Columbia, and a Board Member with Technology for Living.","bbox":{"left":0.509804,"top":0.370246,"width":0.4567269999999999,"height":0.13001199999999996}},{"text":"Mr. Kramer Q.C.’s assistance in providing this information is appreciated. Readers \n are cautioned that the information expressed in this article should in no way be \n construed as legal advice.","bbox":{"left":0.509804,"top":0.508504,"width":0.44358999999999993,"height":0.054254000000000135}},{"text":"Trusts \n You can make a gift today and benefit from the donated \n assets during your lifetime. You can accomplish this \n through a trust to which you transfer cash or assets. You \n or someone chosen by you will then receive either a fixed \n payment or interest income. When you transfer property \n to a trust, you receive a charitable tax receipt for the \n present value of the charitable entity’s interest. Trust \n assets are placed outside your estate and the tax receipt \n may be used to reduce your taxes during your lifetime. \n When the trust terminates, the remaining assets will be \n used in the future to support the mission of the charitable \n organization of your choice.","bbox":{"left":0.029412,"top":0.596197,"width":0.451334,"height":0.240097}},{"text":"Personal Assets and Real Estate \n There are also opportunities to make a gift of personal \n or real property to a charitable organization and retain a \n right to use the property during your lifetime. The trans- \n ferred property may be art, your residence or commercial \n real estate. In each case you will receive a charitable tax","bbox":{"left":0.029412,"top":0.85251,"width":0.450164,"height":0.11633300000000002}},{"text":"Ken M. Kramer, Q.C, TEP \n Principal & Senior Associate Counsel \n KMK Law \n 604-990-0995 \n info@kmklaw.net \n www.kmklaw.net","bbox":{"left":0.509804,"top":0.852678,"width":0.3130939999999999,"height":0.1107419999999999}}],"images_bbox":[{"left":0.507059,"top":0.578596,"width":0.293754,"height":0.27001}],"images_bbox_not_text_overlap":[{"left":0.507059,"top":0.578596,"width":0.293754,"height":0.27001}]}