Gifts through your will may be one of the simplest ways to distribute your estate. After providing for the needs of loved ones, you may choose one of several ways to benefit charitable organizations. By having your attorney revise your will, you can make a gift of a dollar amount, a specific property, a percentage of your estate, or what is left after you have provided for your loved ones. First Baptist Church of Silsbee considers it a great honor to be included in any donor’s will at whatever level the donor deems appropriate. While a testamentary gift does not provide current income tax deductions, it may help to reduce estate taxes. If you have established a revocable living trust, you can provide that at its termination, a portion of the assets in the trust be used for charitable purposes you direct. Much like a charitable bequest through a will, such a gift does qualify for a charitable estate tax deduction. Please consult your estate advisor or attorney as you plan ahead for the furtherance of the gospel message of Jesus Christ. 

Gifts of appreciated capital assets such as stocks, bonds, and real estate can have significant tax advantages by avoiding capital gains tax in addition to providing a deduction. The amount of the deduction is based upon the market value of the asset on the date of contribution instead of the original purchase amount. By transferring the assets to First Baptist Church of Silsbee rather than selling them, you may avoid payment of a capital gains tax on the appreciation. If you have appreciated assets, you may want to consider transferring all or a portion of them to First Baptist Church of Silsbee. The church business office will provide assistance in coordinating the transfer with your broker.  Please work with your estate advisor or attorney in making these decisions.