Tip of the Day
You you tap one of your biggest assets to make a gift, while protecting your capital and facilitating the move to your next home or a retirement facility.
Does your home represent a large proportion of your assets? Will you need to sell it to finance your move to a retirement facility?
The charitable bargain sale is a unique gift plan in which we pay you cash for your home -- cash that you can use for the move to your next residence. The purchase price will be less than the home's market value, and that difference will produce a charitable deduction for you. In addition, your capital gains on the sale of the house, if any, are reduced in proportion to the discount you took on the sale price.