Gifts That Protect Your Assets
If you have any questions about this event, please contact
or call: (941) 359-1404
Increased income may not be your primary objective. Instead, you may be wondering how you will deal with some highly appreciated property or a growing family business as your needs and lifestyle change. You have worked hard and do not want taxes to consume that which you have worked so hard to grow.
A Charitable Lead Trust
A charitable lead trust is a way of making a gift to Lighthouse of Manasota that enables you to reduce gift and estate taxes while controlling the timing of passing assets to your children and grandchildren.
How It Works
⎯ You contribute securities or other appreciating assets to a Charitable Lead Trust. Our suggested minimum gift requirement is $1,000,000.
⎯ The trust makes annual payments to Lighthouse of Manasota for a period of time.
⎯ When the trust terminates, the remaining principal is paid to your heirs.
⎯ Income payments to us for a term reduce the ultimate tax cost of transferring an asset to your heirs.
⎯ The amount and term of the payments to Lighthouse of Manasota can be set so as to reduce or even eliminate transfer taxes due when the principal reverts to your heirs.
⎯ All appreciation that takes place in the trust goes tax-free to the individuals named in your trust.
Charitable Bargain Sale
How It Works
⎯ You sell your residence or other property to Lighthouse of Manasota for a price below the appraised market value — a transaction that is part charitable gift and part sale.
⎯ The Lighthouse may use the property, but usually elects to sell it and use the proceeds of the sale for the gift purposes you specified.
⎯ You receive an immediate income tax deduction for the discount you took from the appraised market value of your property.
⎯ You pay no capital gains tax on the donated portion of the property.
⎯ You can receive payment from us in a lump sum, or in fixed installments.
Retained Life Estate
How It Works
⎯ You transfer the title to your residence, farm, or vacation home to Lighthouse of Manasota and live there for the rest of your life.
⎯ Continue to live in the property for life or a specified term of years, and continue to be responsible for all taxes and upkeep.
⎯ The property passes to The Lighthouse when your life estate ends.
⎯ You can give us a significant asset but retain the security of using it for the rest of your life.
⎯ You receive an immediate income tax deduction for a portion of the appraised value of your property.
⎯ You can terminate your life estate at any time and may receive an additional income tax deduction OR you and The Lighthouse may jointly decide to sell the property and prorate the sale proceeds.