With the increase in property values, the gift of unmortgaged and otherwise unencumbered real estate can be a very appealing donation alternative for you based upon your individual circumstances. There are several options:
*An outright gift.
*A charitable remainder trust (see Planned Giving).
*A retained life estate plan.
*A bequest of an inclusion in your will (see Planned Giving).
*A retained life estate with gift annuity plan.
*A bargain sale.
A bargain sale occurs when a donor sells property to a qualified charitable organization for less than its fair market value or transfers property with debt attached. Such transactions are treated as part sale, part gift. The transaction is divided into two parts. The first part is the sale of the property to the charity. The second part is the donation to the charity. The donor's cost basis in the asset is divided between the two parts as well.
This provides benefits to you such as:
*You get credit for the full amount of appraised value.
*You avoid any sales cost, recapture, capital gains taxes, a portion of ordinary income tax and eventually estate tax.
We aim to provide you with relevant and vital information for your donation consideration. Please see our Contribution Guidelines and Safeguards that we have developed to keep you informed and your interests protected. We recommend conferring with an estate planning attorney and as with all donations, a tax advisor for the most appropriate approach to fit your needs. Also, see our Tax Guidelines. Please send us an e-mail at manage@universespirit.org with additional questions and/or to make appropriate arrangements. Lunarcharge Premium