At various stages of our lives, we all deal with different issues, financial and otherwise. These stages of life need to be taken into account when planning your gift to the UW Foundation.
The Life Stage Gift Planner will help guide you through the financial strategies and possible charitable solutions to the tax problems you may be facing.
Ages 22–45
At this stage in life, some of the financial issues
you may find yourself dealing with are:
- Increasing income
- Managing debt
- Accumulating assets
- Starting discretionary savings programs
- Long-range planning for retirement and emergencies
- Establishing a growth strategy for investments
- Creating a simple will and estate plan providing for heirs and bequests to charity
Ages 45–65
At this stage in life, some of the financial issues
you may find yourself dealing with are:
- Accumulating assets
- Active financial planning
- Comprehensive estate- and wealth-transfer planning
- Assisting children with debt through annual gifts
- Taking advantage of charitable trusts to optimize family wealth transfers and maximize tax benefits
- Diversifying investments
- Increasing retirement-plan contributions
Over Age 65
At this stage in life, some of the financial issues
you may find yourself dealing with are:
- Shifting to income-producing assets
- Increasing cash flow—charitable gift planning can help to minimize taxes
- Maintaining financial stability
- Anticipating health care needs and insurance coverage
- Concern about the financial future of younger members of the family
- Reviewing your will and estate plans