Painless Philanthropy:
Income Trusts and you Almost everyone wants to provide financially for their families and have enough left over to make major gifts to their favorite charitable organizations. But very few realize how easy it is to make this dream a reality. Charitable income trusts -- such as the unitrust -- can do just that. These trusts generate income for you and, if you want, another beneficiary. It can last either for your lifetime or for a certain number of years. You can create these income trusts with cash, stocks, land, or other types of property. You get an immediate income tax deduction (usually based on the fair market value of your gift), avoid capital gains tax (if you created the trust with property that had appreciated in value), save estate taxes and probate costs on that property, and make a major gift to Scouting -- all at the same time! Many donors use these trusts to generate income to their children to pay for their education. It's an inexpensive way to provide tuition, room, board, books, and the other costs of an education. Many use them to provide additional income for their parents in retirement. And many use them just because an income trust is a great way to provide additional income, tax deductions, and a major gift to Scouting. It's a gift where everyone benefits! Contact us for more information about these income trusts. Becoming a major philanthropist for your local council can be a painless proposition!
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