You can benefit from the tax savings that result from supporting Oregon Food Bank without losing the assets you've set aside for your family. Have it both ways with a charitable lead trust.
This is an excellent way to transfer property to family members (typically children or grandchildren) at miminal cost. This type of gift (also called a nongrantor or family lead trust) is especially appealing to OFB supporters who are financially comfortable enough to forego investement income on certain assets.
How it works
- You give assets to the trust, which pays OFB income for the number of years that you specify. The longer the term, the greater the tax savings for you.
- When the term is up, the remaining trust assets go to your family or a beneficiary you select.
- You support the fight against hunger while also making sure your loved ones are taken care of after your lifetime.
- The gift qualifies for gift or estate tax savings based on the current value of the income paid to OFB over the trust term. Talk to you legal or tax advisors for more information about tax savings.