You may own a residence, vacation home, farm, acreage or vacant lot that has appreciated over the years and therefore, selling it would mean a sizeable capital gains tax. By supporting the NWTF through a gift of real estate, you would avoid the capital gains tax and also receive a charitable deduction for the full market value of the property.
This includes items such as books, artwork, furniture, Oriental rugs, automobiles, boats, silverware and jewelry. For these gifts to be deductible at their full market value: (1) the item must be directly related to the NWTF's tax exempt purposes; and (2) you must have owned the item long term.
An excellent method of supporting the NWTF is through long term appreciated securities. This method gives you two valuable tax savings. First, you pay no capital gains tax for the securities' appreciation in value. Second, you receive a tax deduction for the full market value of the securities on the date of the gift.
There are numerous types of Trusts that people create to serve various circumstances. You should check with your attorney to see whether one might be appropriate for your situation. A few types of Trusts are: Unitrusts, Annuity Trusts, Charitable Lead Trusts, Remainder Trusts and Revocable Trusts.
You can use a policy you currently own but no longer need, or purchase a new policy, to make a gift to the NWTF. At the time of your death, when the proceeds are paid to the NWTF, your estate would receive a charitable deduction.
Please contact the Development Department to further discuss this opportunity by email, email@example.com or by phone, 803-637-3106.