In This Issue—Fall 2023

• Dear Friends
• A Meaningful Gift with a Steady Return: Ray ’69 and Leslie Heaslip Wengenroth ’74
• A Simple Way to Pay It Forward: Paul ’77 and Susan Blazar Friedman ’78
• The Gift Annuity: New Higher Rates Mean More Income for You
• What Are the New Rates for Gift Annuities?
• How Are Gift Annuity Rates Determined?
• I Am Married. Can Colgate Make Income Payments as Long as Either One of Us Is Alive?
• I Don’t Need Additional Income Now. Can I Make a Current Gift and Delay Receiving Payments?
• The Return of the Estate Tax for $5.6M+ Estates
• Forever Colgate: Join the Willow Society

The Return of the Estate Tax for $5.6M+ Estates

The Tax Cuts and Jobs Act (TCJA) of 2017 doubled the exemption for the federal estate and gift tax. In 2023 the exemption is $12.92 million ($25.84 million for married couples). Any estate less than this amount will not be subject to the 40% federal estate tax. The provisions of the TCJA are scheduled to sunset effective January 1, 2026, when the federal estate- and gift-tax exemption is set to return to pre-TCJA amounts, $5.6 million ($11.2 million for married couples). If your estate is larger than the upcoming "new" exemption amount, consider making charitable gifts to reduce the size of your estate. Establish a charitable remainder trust with Colgate or make a bequest to us. Name us as beneficiary of your retirement plan, and we will receive 100% of what you designate because, as a tax-exempt organization, we are not taxed on the gift as individuals would be.