Revocable vs. Irrevocable Gifts
The IRS provides important tax incentives to encourage support for charitable organizations. To qualify for any given tax benefit, a gift typically must be irrevocable. Stated another way, a gift must be complete and not subject to any revocation by the donor.
Clearly, an irrevocable gift only should be made after proper reflection and consultation with your legal and financial advisors. However, with proper planning, such gifts can provide important income and tax benefits for you and your heirs.
Examples of these gifts include Charitable Remainder Trusts, Charitable Lead Trusts and Charitable Gift Annuities.
History Colorado can help you explore the benefits that may result from an irrevocable planned gift. For more information, please contact Rebecca Olchawa Barker at 303-866-4845 or email. Again, there are never any expectations or obligations to complete any gift.