Have you considered donating securities?
What Are Securities?
A security is any proof of ownership or debt that has been assigned a value and may be sold. For example: stocks, bonds, or mutual funds.
Why Give Securities?
The simple answer: You do not need to pay tax on securities directly donated, while you would need to pay tax if you cash in those securities and then donate the capital gains. You can learn more about giving securities in this post on our blog.
How Does It Work?
1. Download our Security Donation Form and send it to your broker or financial advisor.
2. Your broker will contact our agent, listed on the Security Donation Form accessible above, and deliver them the form.
3. Once the securities have been transferred to our brokerage account, we will be advised in writing of the receipt of the securities and the closing bid value on the day they were received.
4. You will be issued an official receipt for income tax purposes, for the value as determined by our agent.
5. Once received, securities may be sold or added in specie to First United’s investment account in accordance with our investment policy.
We’d love to hear from you. Contact 604.336.3047 or email@example.com to connect with a member of our team.