Adding Meaning to Your Money


How to generate income, receive a tax deduction, and make a gift that gives back

with

Corporate Vice President and Advanced Planning Consultant, New York Life Insurance Company, Melissa Winn, J.D., LL.M

followed by

a special tour of the Chinese ceramics collection with docent Gail Martin.

Tuesday, February 20, 2018
2:30-4:30 PM

Asian Art Museum
200 Larkin Street
San Francisco

Kindly reply by February 13 to Audrey Teuber at 415.581.3791 or ateuber@asianart.org.

Space is limited.

Speaker Biography

Melissa Winn is a Corporate Vice President and Advanced Planning Consultant with New York Life Insurance Company.

Melissa joined New York Life with over ten years’ professional experience in the financial services industry and legal community, having worked with prominent life insurance and financial planning companies and high-profile law firms.

Melissa earned her law degree from William & Mary Law School in Williamsburg, Virginia; and received her Master of Laws in Taxation from New York University School of Law with a concentration in the taxation of trusts and estates. She earned her Bachelor of Arts (magna cum laude) in English literature from Wellesley College, Massachusetts.

Tour Description

On this tour, we will look at vessels that illustrate how the ceramic tradition evolved in China from Neolithic times, with an emphasis on the discovery of how to make porcelain — a process that was unique to China for more than a thousand years. We’ll see examples of the advances in decorative techniques that have given us some of the world’s most beautiful ceramics.

A charitable bequest is one or two sentences in your will or living trust that leave to the Asian Art Museum Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the Asian Art Museum Foundation, a nonprofit corporation currently located at 200 Larkin Street, San Francisco, CA 94102, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the museum or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the museum as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the museum as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the museum's partner where you agree to make a gift and our partner, in return, agrees to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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