For 2009 Americans made charitable gifts estimated to be $303.75 billion. Often, charitable giving is accomplished through the use of charitable trusts. Our staff is experienced in the planning and administration of charitable trusts.
Great flexibility and substantial tax advantage can be gained through the use of CHARITABLE LEAD TRUSTS and CHARITABLE REMAINDER TRUSTS.
Tax advantages of Charitable Trusts:
- Current charitable deduction for income tax
- Possible reduction in value of gross estate for estate tax purposes
- Possible reduction in value of gift for gift tax purposes
Charitable Trusts are sophisticated planning tools. Please consult one of our trust professionals to help you evaluate how these types of trusts might help you.
First Southern Bank Trust Department 301 South Court Street
Florence, AL 35630
Senior Vice President & Trust Officer
Sally Ticer Murphy
Assistant Vice President & Private Banker
Toll Free Number: 1-800-625-7131
Products and Services offered by First Southern Bank's Trust Department:
- Are not FDIC or any other Government Agency insured
- Are not Bank guaranteed
- May Lose Value