Gifts That Protect Assets
Maintain benefits of an asset.
Reduce Gift or Estate Tax
Lead Trust
Details:
Through a charitable lead trust, you can make annual payments to Bayshore Health for a specified number of years or your lifetime, with any remaining trust assets ultimately passing to your family members or other designated beneficiaries. This irrevocable trust strategy may help reduce estate and gift taxes while allowing you to see the impact of your charitable giving during your lifetime. Given the complexity and tax implications, professional legal and tax consultation is essential.
Donor Profile:
Charitable lead trusts are for donors who want to fund a gift now and transfer tax-advantaged wealth to another generation. Lead trusts work best when funded over $1,000,000, meaning this gift plan is for wealthy donors.
Donate Your Home and Live in It
Retained Life Estate
Details:
With this gift, you transfer a property deed to Bayshore Health, and retain the right to use or live in the property for your lifetime. The tax deduction you receive in the year of the transfer is based on your life expectancy and the property’s current value, and you agree to cover expenses and maintenance of the property during your lifetime.
Donor Profile:
Similar to a gift of real estate, a donor who wants to retain use of their home for their lifetime but does not need or want to include their property in their estate plan will benefit from retained life estates.
Reduce Gift or Estate Tax
Bargain Sale
Details:
You sell your property to Bayshore Health for an amount less than the fair market value, and you receive a charitable tax deduction equal to the difference between the market value and the sale price. This can sometimes be more financially advantageous to you than selling the property and making an outright charitable gift from the proceeds of the sale.
Donor Profile:
A donor who faces significant capital gains issues and wants to receive a lump sum payment and a tax deduction is the right match for a charitable bargain sale.