Outright Gifts of Assets
and Retained Life Estates
Gifts that may be given outright
include cash, long-term appreciated stock, mutual
fund shares, and most types of real estate. Both
cash and non-cash gifts offer certain tax advantages
while allowing Bible Prayer Fellowship to use the gift
immediately. When real estate is given, you may
retain a "life estate" and live on the
property for the reminder of your lifetime.
Assets: Cash
Cash is the easiest of all assets to transfer
in order to fund an outright or life income gift
to Bible Prayer Fellowship. Ordinarily, the receipt of
your check by Bible Prayer Fellowship completes the transaction.
Cash may also be used to fund a life-income gift,
such as a charitable gift annuity. A charitable
gift annuity is likely to provide higher income
than either a certificate of deposit or a savings
account.
Outright Gifts of Other Assets
You may discover giving appreciated assets to
be a particularly attractive way to make a gift
because you are supporting Bible Prayer Fellowship with
a greater gift and at a lower cost than when making
a cash gift.
Stock or Mutual Fund Shares
By giving securities that you have owned for more
than one year, you will receive an income tax
deduction for the full fair-market value and you
will completely avoid capital gain tax.
Real Estate
Bible Prayer Fellowship accepts gifts of approved residential
and commercial properties. Gifted properties are
then sold and the proceeds used to support our
mission. If you have owned the property for more
than one year, you will receive an income tax
deduction for the full fair-market value of a
property and completely avoid capital gain tax...More
on Real Estate (click
here)
Retained Life Estates
You can donate your residence, vacation home,
or farm to Bible Prayer Fellowship, while reserving the
right to continue living in or using the property
after making the gift. You will receive an immediate
income tax deduction for a portion of the fair-market
value of your property. You will continue to be
responsible for insuring, maintaining and paying
the property taxes...More on Retained Life Estates
(click here)
Note: Cumulative gifts to charity
of appreciated securities and real estate are
deductible up to 30% of your adjusted gross income,
with a 5-year carry-over for any excess.
Our
friends at PhilanthroCorp would like to hear about
your stewardship and philanthropic interests
and financial goals. They can help you design
strategies that will support the Lord's work through
Bible Prayer Fellowship while maximizing your tax and
financial benefits. Of course, all recommendations
will need to be discussed with your own legal
and tax advisors.
For more information about making
an outright gift of assets or establishing a retained
life estate, please contact a PhilanthroCorp Estate
Specialist, call 800-876-7958 ext 2127
or email (click
here)
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of Estate Planning
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Information
on this site is NOT intended for legal advice.
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