Turn property into income
Donna learned she could make a gift of her home to the charity and receive income for life.
Donna: I really needed to downsize. I set up a charitable remainder trust naming Oakland Symphony as the beneficiary. The trust sold my house tax-free and invested the proceeds. The trust will provide me with income for the rest of my life, and I received a tax deduction. The income from the trust is more than enough to cover the cost of my new apartment and living expenses.
Is a gift of your home to fund a charitable trust right for you?
Better than a reverse mortgage, a trust is one strategy to "downsize" your home, avoid capital gains tax and provide you with income.
If you have questions about how a trust could help you downsize, please contact us.
Your benefits may be different. Click here to view an example of your benefits.