Sale and Unitrust
Are your appreciated assets (such as stock, bonds or real estate) producing little or no income?
If you sell your appreciated assets, you will pay a large capital gains tax. A sale and charitable remainder unitrust may be the solution.
How a sale and unitrust works
- You give a portion of your asset
- The asset is sold, you receive cash and the rest goes to fund your charitable trust
- The trust will provide you with income for the rest of your life
- You receive a charitable deduction this year to offset your tax on the sale
Benefits of a sale and unitrust
- You get the cash you need to purchase another residence, travel or meet your daily needs
- The unitrust provides you with income for the rest of your life and future retirement
- The unitrust deduction gives you valuable tax savings that may reduce your tax bill this year
- When you pass away, the remaining value in the unitrust will create or support your charitable fund at Akron Community Foundation
Is a sale and unitrust right for you? Call your advisor or contact us.