There are times when owning property can feel more like a burden than a blessing. Consider these real-world scenarios…
- George and Eunice have a lakeside cottage that’s provided countless family memories over the decades. Now that their children are grown, however, they seldom find time to enjoy it. The cottage is worth far more now than when they bought it – but they know if they sell it, they’ll lose much of its value in taxes.
- For years, Gerald and Francine worked side-by-side managing an apartment complex that provided a steady source of income. But now that Gerald has passed, Francine feels overwhelmed by ongoing building maintenance and finicky renters. She wants to give the property to charity, but she’s concerned about the tax bill it will generate and the needed income the apartments provided.
- Tom’s farm has grown significantly in size and sophistication since he first inherited it from his father 35 years ago. His children have also experienced success in the pursuit of their own careers. Tom is contemplating retirement, but he isn’t sure what to do with the business – especially his expensive array of machinery that’s been paid off and depreciated down.
What do these three families have in common? They found their tax-wise giving solution for their property in charitable remainder trusts.
Charitable remainder trusts allow you to gift property you no longer want or need to charity while experiencing significant personal benefits.
By giving property to Love INC] through a charitable remainder trust, you can…
- Support the important mission of Love INC.
- Release yourself from the burden of property you no longer want or need.
- Take a charitable deduction and avoid the immediate tax bill.
- Secure ongoing lifetime income for you and your loved ones.
Is a charitable remainder trust the right giving option for you? Learn more and request your free personalized proposal by calling Carrie Childerston ] today at 616-662-3300 ext 130 or carriec@loveinthenameofchrist.org .