Bill Gates has given nearly $8 billion to a foundation run by his ex-wife, Melinda French Gates, tax records show, shedding fresh light on the former couple’s divorce. The payment is one of the largest charitable donations ever made public. Gates transferred the funds in 2024 to the Pivotal Philanthropies Foundation, a nonprofit founded by Melinda French Gates that focuses on advancing opportunities for women and families. The donation totaled $7.88 billion, per the New York Times citing tax filings. Th ...

Core Insights - Individuals aged 57 to 75 are contemplating retirement and may consider liquidating assets for cash, but financial experts advise against hastily selling valuable properties [1][2] Group 1: Financial Advice on Asset Liquidation - Selling appreciated stocks or assets with large capital gains in taxable accounts is discouraged, as it may not be the best financial decision [3] - Holding onto these assets can provide tax advantages for heirs through a step-up in basis, potentially resulting in significant tax-free gains [4] - Charitable gifting of appreciated stocks is recommended instead of selling them, as it avoids capital gains tax and supports charitable causes [5] Group 2: Life Insurance Considerations - Selling life insurance policies may seem appealing, but it can deprive heirs of financial benefits intended for them, as the buyer receives the payout upon the seller's death [6] - Retaining life insurance is advised to ensure that heirs receive the full benefits, which can also affect eligibility for need-based programs like Medicaid [7]

Core Insights - Charitable organizations commonly accept credit card donations, providing a convenient way for donors to contribute while potentially earning rewards [2][4][8] - Credit card processing fees can significantly reduce the amount received by charities, often by 3% or more, which is a critical consideration for donors [4][17] - Some credit card issuers offer rewards programs that allow donors to redeem points for charitable donations, enhancing the appeal of using credit cards for this purpose [10][13] Donation Process - Donors can easily make credit card donations by visiting the charity's website and navigating to the donation page [2][3] - During the donation process, donors may have the option to cover credit card transaction costs, which can help maximize the charity's received amount [3][5] Payment Options - Charities may accept various payment methods, including credit cards, debit cards, and bank transfers, with some options potentially incurring lower fees [4][12] - Certain charities also allow donations via platforms like PayPal or Google Pay, providing additional flexibility for donors [2][12] Fees and Charges - Credit card processing fees are a common expense for charities, which can include platform fees that may reach up to 5% in some regions [14] - In the U.K., there is an additional charge of 30 pence on top of the credit card processing fee for donations made in currencies other than GBP [14] Benefits of Credit Card Donations - Using a credit card for donations offers convenience, the potential to earn rewards, and the possibility of tax deductions for the donor [8][17] - The ability to cover processing fees during the donation process can further enhance the impact of the contribution [5][17]