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Planned Giving Links Gifts of Real Estate and Stock
About Gomde
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Charitable Trusts: A Way to Create a Lasting Legacy If you're like many investors today, you may own appreciated assets, such as stock or real estate, that you are reluctant to sell because of the significant capital gains taxes you would owe. At the same time, you may be looking to increase your cash flow or diversify your holdings. That would mean selling those valuable assets, paying the applicable taxes and reinvesting at less than the asset's full value. Fortunately, there is a solution to this dilemma. Charitable trusts provide very flexible and powerful tools that can allow you to avoid taxes in two or three different ways, increase your current and/or future income stream, and provide vital support to a charity that you care about. Although there are a number of types of charitable trusts, most of them work in basically the same way. You transfer a portion of your assets to the trust. You would usually use highly appreciated assets because the charitable trust can sell these assets without incurring the capital gains taxes that you would have had to have paid. In addition, you would receive a federal income tax deduction for the present value of the amount of the remainder going to the charity at the end of the trust. In addition, you would remove these assets from your estate and would not have to pay gift or estate taxes on this property. Furthermore, if you had property like real estate or growth stock that was producing little or no income, you can increase the amount of current income that you are receiving. Finally, at the end of the trust, all of the remaining assets would go on to the charity. This support from you would be the vital lifeblood that would keep the charity’s good works continuing until far into the future. In summary, by establishing a charitable remainder trust, you can:
To accomplish these above benefits, you can set up a Charitable Remainder Unitrust Trust or a Charitable Remainder Annuity Trust with your lawyer and bank. The main feature of these trusts is that you make an irrevocable designation of part of your property to the charity and in return you get tax benefits as well as an income stream. You could also set up a charitable lead trust. In this case, you give the charity the right to receive the income from your property for a term of years or the life of a beneficiary. At the end of that term, your family or beneficiaries receive the property back. There are some strange tax consequences to this trust, so be sure to talk to your lawyer first before setting one up and read the information in our Sample Charitable Lead Trusts Page. If you would like to learn more about these ways to give, please click on one of the following links: Sample Charitable Remainder Annuity Trusts PDF Sample Charitable Remainder Unitrusts PDF Sample Charitable Lead Trusts PDF If you have any further questions about giving through a will or a trust or about the mission of the Rangjung Yeshe Gomde, please contact us at adminassist@gomdeusa.org.
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