God has graciously blessed Answers in Genesis with faithful supporters who sacrificially give of their time and resources so that we can continue spreading the message of biblical authority and the gospel of Jesus Christ. In my blog for the last few months I’ve been occasionally highlighting creative ways that you can give to AiG to help us continue our mission and advance God’s Kingdom. Most of these giving opportunities not only help us but they also help to offset high capital gains taxes.
Well, I’ve been informed of another giving opportunity. It’s a charitable trust called a “charitable remainder unitrust.” Here’s an illustration I’ve been given to show how it works:
When AiG supporters Howard and Lynn turned 55 they decided to purchase some land outside of their town. They thought it would be a good investment that they could later sell for a higher price.
Well, over the years, the town has grown and now their land is next to a large commercial store. They rent the property to the store for overflow parking so it’s been a good investment and the land has increased in value. The rental income is just enough to pay the taxes but Howard and Lynn decided they would like to sell. The problem is, if they sell now there will be a large capital gains tax.
So Howard and Lynn decided to create a special trust, the charitable remainder unitrust. This trust pays them a fixed percentage annually off the principle of the trust. In doing this, they received four benefits. First, they were able to bypass the large capital gains tax, second, they were able to increase their income, third, they were able to receive a charitable deduction for their income taxes, and, fourth, they were able to partner with us to further the gospel of Jesus Christ and the message of biblical authority.
You can learn more about giving to AiG at GenesisGift.org.
Thanks for stopping by and thanks for praying,
This item was written with the assistance of AiG’s research team.