He should have done just the opposite. If they had received the home, and the charity had received the retirement plan payment, no one would have paid income tax. A. Donors who need a device that will pay them for life, allow them to bypass capital gains tax on stock or real estate, want to reduce estate tax, and find satisfaction in providing for a good cause like Philharmonia Baroque. Philharmonia Baroque will provide you with tax and income calculations tailored to your particular situation. This will give you and your advisors the information needed to make an informed decision as to whether a charitable trust meets your financial and philanthropic objectives.
All information is provided confidentially and without cost or obligation.
Philharmonia Baroque Orchestra deeply appreciates your willingness to help continue its work. After the death of all income beneficiaries, what remains in the trust passes to Philharmonia Baroque Orchestra. We will be happy to give you an idea of the size of your deduction. No tax on the sale of appreciated property. From the donor's point of view, this is often the most important tax benefit.