You have property or money that you want to donate to a charity. You also want to continue to use the property and/or receive income from it while you are living.
We have expertise in the area of charitable remainder trusts and can:
- Help you as the donor/grantor avoid any capital gains tax on the donated assets
- Provide you an income tax deduction for the fair market value of the remainder interest that the trust earns.
- Remove the asset from your estate, reducing subsequent estate taxes
- Arrange for your beneficiaries to receive the income and the charity to receive the principal after a specified period of time.
While your contribution is irrevocable, our team of attorneys can structure the trust so that you as the grantor may have some control over the way the assets are invested. We can also provide you the flexibility to switch from one charity to another qualified charitable organization.
Charitable trusts are especially helpful when it comes to highly appreciated assets with limited income-producing potential. By avoiding the capital gains tax, more money goes to your charity instead of Uncle Sam. The attorneys at The Law Offices of Jason L. Pintar are here to smooth your way through this process and augment your current retirement plan.