Giving Thanks, and Giving Wisely
Thanksgiving is a time to reflect on what we’re grateful for, and for many of our clients, that includes supporting the causes and communities close to their hearts. With Giving Tuesday on December 1, it’s a great moment to make sure your generosity goes as far as possible.
A few strategies can help. If you’re 70½ or older, a qualified charitable distribution lets you give directly from your IRA without the gift being added to your taxable income, and once you’re required to take minimum distributions, it can count toward that amount. Donating appreciated stock instead of cash may allow you to avoid capital gains tax while still supporting your favorite charity.
As Thanksgiving approaches, all of us on the Legacy Group team want to say how grateful we are for the trust you place in us.
Have You Named a Trusted Contact?
We encourage every client to consider adding a Trusted Contact to their accounts. This is someone we can reach out to if we’re unable to contact you, have concerns about your health or well-being, or notice activity that may signal fraud. With scams targeting older adults becoming more frequent and more convincing, this added layer of protection matters more than ever.
A Trusted Contact cannot access your accounts or make any changes. They are simply someone who knows you and can help us act in your best interest if something doesn’t seem right.
Setting one up is easy. Call our office and ask for anyone on the Legacy Group team, or send us an email. All we need is your contact’s name, their relationship to you, and their phone number.
Looking Ahead:
- Thanksgiving Office Hours: Our office will be closed on Thursday, November 26, in observance of Thanksgiving, and will close at 1:00 p.m. on Friday, November 27.
- RMD Reminder: If you’re required to take a minimum distribution from your retirement accounts this year, the deadline is December 31. Please reach out soon if you haven’t taken yours yet so we can make sure it’s completed on time.
- Year-End Reviews: It’s a great time to schedule your annual review. Call our office or send us an email to set up a time with the Legacy Group team.
Questions about any of the topics discussed in this newsletter?
Whether you’d like to review your financial plan, discuss opportunities for your children or grandchildren, or simply have a financial question, we’re always happy to help.
