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Old 10-29-2007, 04:09 PM
wdcbooks wdcbooks is offline
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Join Date: Mar 2005
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Default Re: I have an idea and need advice

It sounds like you may be describing a Charitable Trust or a Remainder Trust of some sort.

Here is the way one might work. You have a property, or a cash account that is highly appreciated. You give it to charity through a trust arrangement and in turn the charity pays you an income based on the size of the gift as an annuity for life. At your death the remaining value of the property becomes property of the charity.

You can also do the opposite by donating the income stream from the asset to charity and having the corpus resort back to your estate upon death. These are both very common among high net worth donors. There is no reason you can't be anonymous working through an attorney who represents you.

The tax laws surrounding this are quite complex and you should engage is some discussion as to what arrangement is in your best interest. You should call the charity you are interested in and ask to speak to the person in charge of planned giving, every charity has such a person. They can guide you as to the most efficient way to both give and get the income you need.
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