By establishing a life income gift, you can receive significant tax benefits and lifetime income.
For donors with appreciated assets—such as real estate or stocks—charitable remainder trusts are an excellent option.
A charitable remainder trust can help you:
- Avoid capital gains tax on appreciated assets
- Receive a significant and immediate income tax deduction
- Arrange for annual or quarterly cash payments for you or your designees
- Realize substantial estate tax savings
To establish a Charitable Remainder Trust with the Woodside Community Foundation, you select an asset that has appreciated in value and contribute that asset to a trust. The trust then sells the asset, reinvests the proceeds, and provides you and/or your designees with a specified annual percentage payout over a period of time. This payout can be set up for lifetime payments or payments over a term of years. At the end of that period, the trust dissolves and the trust assets go to the Woodside Community Foundation.
There are many types of charitable remainder trusts that can meet a variety of personal, income, tax and charitable gift goals.
We encourage you to discuss ways in which life income gifts can meet your philanthropic needs and benefit the Woodside Community Foundation with your own counsel.