Capital Gains Tax Bypassed
Peter: For many years we had supported the work of our favorite charity. The charity sent us an e-mail that explained how we could make a gift of appreciated stock to charity while bypassing potential capital gains taxes. I was excited to learn that after we transferred our portfolio to a charitable remainder trust, the trust would sell the stock tax-free.
Gail: I liked the fact that the trust would provide us with income for our retirement years. If something happened to Peter, I would still be taken care of for the remainder of my life.
Peter and Gail decided to make a gift of their appreciated stock to establish a charitable remainder unitrust. They were pleased at the prospect of creating future income while bypassing capital gains tax.Gail: I liked the fact that the trust would provide us with income for our retirement years. If something happened to Peter, I would still be taken care of for the remainder of my life.
Peter: When I heard that in addition to the other benefits, we would receive a charitable deduction for our gift, it was just icing on the cake. I wondered why everyone nearing retirement doesn't set up a charitable trust.
Is a tax-free sale from a charitable remainder unitrust right for you?
If you own highly appreciated property, such as real estate or stocks, you could benefit from a charitable remainder unitrust. The trust will help you bypass capital gains, provide you with a charitable income tax deduction in the year of the gift and may increase your income.
If you would like more information about the benefits of a charitable remainder unitrust, please contact us. We would be happy to assist you.
*Please note: The names and image above are representative of typical donors, not actual donors. Since your unitrust benefits may be different, you may want to click here to personalize an example of your benefits.
