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FINANCIALLY Speaking 1. Jeffrey M. Orth is a Chartered Financial Consultant, a Certified Advisor in Senior Living, and an Investment Advisor Representative, with over 20 years of experience as a business and personal planning, insurance, and wealth management specialist. Jeff is available for group lectures and private consultations. Visit integrated- financialbenefits.com or call 408.842.2716. Leaving a Legacy M any of us have been lucky enough to grow up in a great country with ample opportunity to both survive and fl ourish. Many of us have been blessed beyond what we ever imagined, and now have a desire to share some of our good fortune with others. I believe most people want to feel like they have made a difference in the world, but they are simply unsure about the best way to do it. Legacy giving is all about thoughtful and efficient giving that continues beyond your own life. There are a number of different strategies that you could deploy, but the key is finding the one that best fits with what you want to accomplish now and once you are gone. Here are some examples of tools that we have used both separately, and in concert with each other, to help people achieve their long- term charitable goals: • Add a second life to a Life Insurance Policy • Gifting a highly appreciated asset directly to a charity • A Charitable Remainder Trust used with an Irrevocable Life Insurance Trust • A Charitable Gift Annuity • A Charitable Lead Trust • Donor-Advised Fund • Amending an existing Will or Trust 2919693RB_Jan22 • Changing a benefi ciary or Contingent Benefi ciary on an investment or bank account • Use of Required Minimum Distribu- tions from an IRA or other Qualifi ed Plan to fund a life insurance policy that will benefi t a charity This is just a partial list—there are many other options as well. Each of the strategies mentioned here could be used for different rea- sons and which one is used depends to a large extent on what you want to accomplish. Here are some of the more common goals: • Save money on income, capital gains or estate taxes • Increase your current income • Make a signifi cant gift to the charity of your choice, while passing more to your loved ones • Make a larger gift to a charity by giving more effi ciently • Direct your money to specifi c causes that are important to you • Be recognized for your generosity • Teach your children and grandchildren the importance of philanthropy The key here is to sit down with profes- sionals who will take the time to listen—really listen—to what you want to have happen with your accumulated wealth. These attorneys and financial professionals may be able to help you map out the strategy that is best for you. In my experience, informed people make better decisions. With that in mind, please consider talking with people who can help you make an informed decision about the future of your assets. Let a professional(s) help you establish “Your Legacy” so that you are able to continue to make a difference in the world long after you are gone. *Be advised that life insurance policies and annuities are subject to certain costs, limitations, and terms and condi- tions for keeping policies in force. Jeffrey Orth is a Registered Representative of, and Securities and Investment Advisory services are offered through Hornor, Townsend & Kent, LLC., (HTK), Registered Investment Advisor, Member FINRA/SIPC, 16845 Von Karman Ave, Suite 225 Irvine, CA 92606 (949) 754-1700. Integrated Financial Benefits Network is not affiliated with HTK. This does not constitute a recommendation to purchase any specific product or service. HTK does not offer tax or legal advice. Please consult a qualified advisor regarding your individual circumstances. 8 GILROY • MORGAN HILL • SAN MARTIN SPRING 2020 gmhtoday.com