Much of the wealth being transferred in the United States today is in the form of highly appreciated illiquid assets: family businesses, closely held stock, interests in limited liability companies, as well as limited partnerships and real estate. For many of our clients, illiquid assets are likely to represent as much as 75% or more of their family net worth. The use of these special assets to meet charitable goals creates potential challenges for (1) the clients who are transferring them and (2) the charities that stand to benefit from the gifts.

Click to read more If you now have more time and assets to give to philanthropy, you may feel, as we discussed in our previous article, "Enhancing Your Legacy Through Philanthropy," that simply writing personal checks to your favorite organizations is no longer sufficiently gratifying. You may want to set longer-term priorities for your giving, involve other members of your family in the decision-making process, and/or establish a philanthropic program that will carry on your legacy and outlive you.

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Brought to you by:

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Randy P. Siller,
CPA*, Masters in Tax, CIMA®, CRPC®

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Jeffrey S. Cohen, CFP®

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Supervising Office
800 Westchester Avenue
Suite S-504
Rye Brook, NY 10573

New York City
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*Registered, not practicing.

Associates of Siller & Cohen are registered representatives of Lincoln Financial Advisors Corp. Securities and advisory services offered through Lincoln Financial Advisors Corp.,a broker/dealer (Member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. This material is for information purposes only. We do not offer legal or tax advice. Seek the advice of a tax advisor prior to making a tax-related insurance/investment transaction. Any discussion pertaining to taxes in this communication (including attachments) may be part of a promotion or marketing effort. As provided for in government regulations, advice (if any) related to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code. Individuals should seek advice based on their own particular circumstances from an independent tax advisor.

Siller & Cohen is not an affiliate of Lincoln Financial Advisors Corp.

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