Reduce your estate by gifting property
There are many ways to contribute to a charitable organization. You can write a check, donate property, or give of your time. If you're planning for retirement, you might want to consider making a gift of a future interest in your property by establishing a charitable remainder unitrust or annuity trust. These trusts allow you to contribute the property and retain an income stream.
You have an income interest in the property while the charity receives the actual property at some future date. At the time you contribute the property to the charitable remainder trust, you'' receive a charitable contribution deduction. This is a win-win situation for all. The charity can continue its work and you receive income and charitable deduction while reducing your taxable estate.
