THE BAPTIST FOUNDATION OF ALABAMA
Home About Us Staff Individuals Churches & Ministries Forms & Publications Related Links Contact Us

  

Individuals -

Planned Giving

Scripture teaches that God is the owner of all things and we are to be stewards (managers) of all He has entrusted to our care, which includes our estate. Therefore, how we view our estate should be through the lens of Christian stewardship. It further leads us to discover ways to take care of both family and faith. Many discover they have the ability to make a planned gift otherwise thought impossible.

 
The Baptist Foundation of Alabama is ready to assist you with your
Christian Estate Plan. We all have the ability to impact the world for Christ.
 
       
Text Resize

Tax-Free Sale

Tax-Free Sale

Howard and Lynn were age 55 when they purchased some land outside of town. They thought it would be a good investment that they could later sell for a higher price.

Over the years, development from town has moved toward the property and their land is now next to a large commercial store. They now rent the property to the commercial store for overflow parking.

Howard: We have owned this property for over 10 years. It has been a good investment and increased in value. We have received just enough rental income in the last few years to pay the taxes. However, we now would like to sell.

Lynn: It would be nice if we could sell without paying a large tax. Our tax advisor has told us that if we were to sell, there would be a large capital gains tax. We also could use some tax deductions this year.

The good news is that Howard and Lynn were able to create a special trust called a charitable remainder unitrust and receive three very nice benefits.

  • Bypass capital gain
  • Increase income
  • Charitable deduction

Howard: We are delighted with our unitrust. With our unitrust, we saved about $36,000 in capital gains tax and almost $18,000 in income taxes. That is over $54,000 in tax savings!

Lynn: Plus, we increased our income. The land was producing almost no income before. Now, we receive over $12,000 in income each year. This increased income is one of my favorite parts of the plan.

*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your unitrust benefits may be different, you may want to click here to view a color example of your benefits.


scriptsknown


Home | About Us | Staff | Individuals | Churches & Ministries | Forms & Publications Related Links Contact Us

Physical Address: 7650 Halcyon Summit Drive | Montgomery, AL 36117 | Mailing Address: P.O. Box 241227 | Montgomery, AL 36124-1227
Phone: 334.394.2000 | Fax: 334-394-2039 | Email:
tbfa@tbfa.org

©Copyright 2020. All Rights Reserved. The Baptist Foundation of Alabama
© 2020 Crescendo Interactive, Inc. PRIVACY STATEMENT