Sarah and Mark told a church friend about their financial concerns. Their friend said, "I wish everyone knew how easy it is to increase income, minimize taxes and give to your church! You and Mark should look into giving and receiving with a Charitable Remainder Trust."
Sarah and Mark owned some stock that paid a low dividend and a small parcel of real estate they did not use. Because of their reluctance to pay capital gains tax, they had not sold these appreciated assets.
Instead they gave the securities and land to their personal Charitable Remainder Trust. The Trust sold the property without capital gains tax. They could choose a fixed rate of income or a variable income from their Trust for as long as they live.
Because their church is the final beneficiary of their Trust, they can take a current charitable tax deduction for the "remainder" gift.
Sarah and Mark have a new source of income with tax advantages and a new sense of peace about their future. They turned idle assets into a reliable resource for their living and giving. It really was easy!
The Central Texas Methodist Foundation offers Giving for Income services. Your call is always welcome.
Pat Sprayberry-Hall800-333-4096 pat@ctmf.org
Copyright 2003 | Central Texas Methodist Foundation | www.ctmf.org
