Smart Ways to Use Precious Metals in Your Estate Planning
Did you know that Queen Victoria, who ruled Great Britain from 1837 until her death in 1901, was buried with a lot of her favorite pieces of jewelry?
She personally selected the items of jewelry that she wanted to be buried with her. They included pieces of jewelry that had been given to her by her late husband Prince Albert, as well as a number of bracelets and other items that held personal value for her.
How much were these items worth? We don’t know. But we do know one thing about them . . .
The value of those items has been lost to Queen Victoria’s heirs
Some Common Sense
We sincerely doubt that you are planning to be buried with the gold scrap, silver scrap or platinum scrap that you own. Why would you? But like many people, you could still be making unwise decisions about your precious metals investments that could prevent your heirs from benefitting from them.
Here are some smart ways to consider the value of your precious metal investments in your estate planning or other financial plans.
Make a tax-deductible donation to a cause you support . . .
You can give some of your holdings every year to your college, to the school your kids attend, to a charity, to a local hospital, or to another institution you want to support.
Give some of your holdings to your children or anyone else . . .
In the calendar year 2022, you can give up to $16,000 tax-free to anyone you want. If you give it to your children, they won’t have to run the risk of paying inheritance taxes on it either. It’s a great idea. Speak with your attorney or tax preparer to learn how.
Create a foundation or other entity to support the causes you love after you pass away . . .
Speak with your attorney, tax preparer and other experts about how to set up a foundation. It could be an effective way to make sure that the investments you have made will benefit the causes and institutions you choose.
Put your precious metal holdings into your IRA or SEP plan, or other investment vehicles . . .
It can be done. Speak with your financial consultant to learn how.
Liquidate some of your precious metal investments and do something meaningful for a college you support . . .
You can support the creation of a laboratory or concert hall, create a scholarship in the name of someone you would like to honor, or endow a teaching position. Chances are the college you choose to support can put your gift to good use . . . no matter its size.
You’ve Invested and Built Value . . . Don’t Let It Slip Away
To be sure you are getting the biggest return on the investments you have made in gold, silver, platinum and other precious metals, call Specialty Metals Smelters and Refiners today at 800-426-2344. We are here to help you get the maximum return on the precious metal investments you have made and to help you make the wisest decisions about your investments in the future.
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