Alzheimer’s and You: Plan ahead with financial giving tips

By Wayne Baller, Baller Financial Group of Wells Fargo Advisors


It may sound strange, but there are ways you can help the Alzheimer’s Association after you have left this veil of tears. This article will cover various ways you can do this.

First, you can name the Alzheimer’s Association as the beneficiary on a life insurance policy or tax deferred annuity. You should let the Alzheimer’s Association know that you have done this, although you will still be able to change the beneficiary later if you want to. In the case of an annuity, your heirs will avoid paying taxes, so in effect you are magnifying the gift to the Alzheimer’s Association.

You can also name the Alzheimer’s Association as your beneficiary on an IRA. Again, you can inform the Alzheimer’s Association of this, and still change your mind later. The gift of an IRA will also avoid taxes for your heirs, so in effect increasing the amount left as your gift.

You may also choose to name the Alzheimer’s Association as a beneficiary under your Will or Revocable Living Trust. You can do this as a gift of a specific dollar amount, or as a percentage of your estate.

For people with highly appreciated property (stock or real estate for example), using a Charitable Remainder Trust (“CRT”) can be a highly advantageous way to donate to charity. In simple terms, the CRT allows you to sell the highly appreciated property without paying capital gains taxes, by first having an attorney create the CRT, and then re-titling your asset into the CRT, before selling it. You then get a current tax deduction, and the ability to take income from the CRT during your life. After you are gone, the “remainder” left in the CRT goes to your charity.

In this and prior articles, we have covered the basics of estate planning, and ways to help the Alzheimer’s Association, both now and later. Some of the concepts we have covered may seem complicated, so please feel free to contact us if you have questions.


Wayne Baller is Managing Director-Investments, and Team Leader of Baller Financial Group of Wells Fargo Advisors in Dayton, Ohio. With his two sons David Baller, Vice – President, Financial Advisor and Steven Baller, Financial Advisor, Wayne serves a select group of client family relationships nationally. We can be reached at 937-224-8201.

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Any third-party posts, reviews or comments associated with this listing are not endorsed by Wells Fargo Advisors and do not necessarily represent the views of Baller Financial Group Wells Fargo Advisors and have not been reviewed by the Firm for
completeness or accuracy.


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