Financial and Tax Professionals
Turnkey Family Foundation Program
Other Types of Planned Gifts:
Any of the above gift plans can be placed in a testamentary
plan as provided in a living trust document, will, or other testamentary
device. Bargain Sale
Those holding property not perceived to be readily marketable and who want an immediate cash return can receive an income tax deduction for the portion of the property contributed to a family foundation. A bargain sale occurs when a donor sells appreciated securities (or other property) to his/her family foundation for less than present fair market value, intending to make a gift of the difference. A deduction is allowed for the difference between the property's fair market value and the reduced sale price.
Retained Life Estate
Many people plan to leave their
homes to a charity in their wills. Naturally, they can't make those gifts now
because they need their homes. You can now leave your home or farm to your own
family foundation and retain the right to live there for your life (the life of
your surviving spouse or other person can also be added). You get a sizable
current charitable income tax deduction. The tax deduction is taken the year
the property is donated based on the appraised amount and may be carried over
for five additional years. The amount of your tax savings depends on your age
and the value of your home. A gift of your home now, with retained life
residency for you, gives you the same estate tax benefit as a gift by will. In
addition, you save probate costs and receive an estate tax deduction. Similar
tax benefits are allowed for a gift of your farm, and you retain the right to
use the farm for your life (and to have a survivor use it for life, if you
like).
About Us | Family
Foundations | Corporate Foundations
Financial and Tax Professionals
| News | Contact Us | Site Map | Home
4518 North 32nd Street, Phoenix, AZ 85018
Telephone: (602) 955-4770
Fax: (602) 955-4707
E-mail: info@americanfoundation.org
Tech Support: info@americanfoundation.org
Privacy Policy Use Notice Disclaimer