A Charitable Trust Can Help Your Community While You Reduce Your Taxes

We recently read an article about the naming of the new Randall Children’s Hospital in Portland, OR, that honors the Robert D. and Marcia H. Randall Charitable Trust, which
donated $10 million to the project.

So, why did the Randall’s, who own a very successful West Coast real estate investment company they started with one duplex apartment in 1960, donate a very generous sum through their charitable trust rather than as a direct personal donation? According to the article about the hospital, the mission of the Randall’s charitable trust is to help significant community organizations in the cities in which their company has investments in commercial property.

We applaud all charitable trusts that serve their communities in such a beneficial fashion. However, we also recognize that the Randalls, in addition to be philanthropic, are astute business owners who probably reduced their company’s capital gains tax obligation when they established the trust.

Charitable trusts are just one of several options for maximizing the benefits of charitable giving. A private foundation and charitable annuities are other options to consider to help achieve your philanthropic and business strategies.

Naturally, any estate planning option you choose for donating large sums of money to a not-for-profit organization will involve complex financial, legal, and federal tax code issues that will impact your family’s future tax obligations.

The Law Offices of Connie Yi, P.C. is uniquely qualified to help you make beneficial decisions regarding these complex issues, because Connie Yi is a San Francisco Bay area charitable planning and capital gains tax law attorney, as well as a highly-experienced Certified Public Account. Connie can work closely with your family to determine the best financial options for current members and future generations, as well as your community.

To schedule a free consultation with Connie Yi about your family’s charitable giving and estate planning, contact us.

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