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 to avoid capital gains tax.
Benefits of a sale and unitrust
- Receive cash from the sale. You can use this cash to purchase another residence, to save for retirement, to travel, to meet your daily needs or to meet some other financial goal
- Receive income from the unitrust for the rest of your life and future retirement
- Obtain an income tax deduction that may reduce your tax bill this year
- Further the work of Mount Evans Home Health Care & Hospice with your gift
How a sale and unitrust works
- You establish a charitable remainder unitrust and transfer a portion of your assets to the trust.
- The assets are then sold. You receive cash from the sale, and the rest of the sale's proceeds are paid to the charitable unitrust.
- 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 cash proceeds that you receive from the sale.
More on sale and unitrust
When transferring a portion of your primary residence to fund a unitrust, you may apply your one-time home exclusion to reduce or eliminate capital gains tax that would otherwise be due from the sale. Your tax advisor can assist you to determine if you should utilize this strategy.
Contact us
If you have any questions about the different ways to leave a portion of your legacy to Mount Evans, please contact us. Your financial and tax advisors know what is best for your individual situation but we can help with your initial research.
If you have been so generous as to include Mount Evans Home Health Care & Hospice as part of your estate plan, please take the time to let us know and we will recognize you as part of the Susan Stearns Legacy Society. We would like to thank you and your family for your generosity.