Building Westmont's
Future Together
Our Gift Planning team has experience across a range of giving opportunities, and we are always available for phone calls and personal visits to discuss your particular areas of interest, from designating Westmont in your wills or trusts to exploring life income gifts with generous tax benefits.
We offer supplemental estate planning and tax guidance information on these web pages through our planned giving partner, Crescendo Interactive, Inc. Based in Camarillo, CA, Crescendo has been a preferred service provider for over 30 years among colleges, universities, faith organizations, professional advisors and other nonprofit organizations.
Steven Jay Davis
Senior Director of Gift Planning
Sale and Unitrust
Are your appreciated assets, such as stock, bonds or real estate, producing little or no income?
If you sell your appreciated assets, you will pay a large capital gains tax. A sale and charitable remainder unitrust may be the solution to avoid capital gains tax.
Benefits of a sale and unitrust
- Receive cash from the sale. You can use this cash to purchase another residence, to save for retirement, to travel, to meet your daily needs or to meet some other financial goal
- Receive income from the unitrust for the rest of your life and future retirement
- Obtain an income tax deduction that may reduce your tax bill this year
- Further the work of Westmont College with your gift
How a sale and unitrust works
- You establish a charitable remainder unitrust and transfer a portion of your assets to the trust.
- The assets are then sold. You receive cash from the sale, and the rest of the sale's proceeds are paid to the charitable unitrust.
- The trust will provide you with income for the rest of your life.
- You receive a charitable deduction this year to offset your tax on the cash proceeds that you receive from the sale.
More on sale and unitrust
When transferring a portion of your primary residence to fund a unitrust, you may apply your one-time home exclusion to reduce or eliminate capital gains tax that would otherwise be due from the sale. Your tax advisor can assist you to determine if you should utilize this strategy.
Contact us
If you have any questions about a sale and unitrust, please contact us. We would be happy to assist you and answer any questions you might have.
Sale and Unitrust
Are your appreciated assets, such as stock, bonds or real estate, producing little or no income?
If you sell your appreciated assets, you will pay a large capital gains tax. A sale and charitable remainder unitrust may be the solution to avoid capital gains tax.
Benefits of a sale and unitrust
- Receive cash from the sale. You can use this cash to purchase another residence, to save for retirement, to travel, to meet your daily needs or to meet some other financial goal
- Receive income from the unitrust for the rest of your life and future retirement
- Obtain an income tax deduction that may reduce your tax bill this year
- Further the work of Westmont College with your gift
How a sale and unitrust works
- You establish a charitable remainder unitrust and transfer a portion of your assets to the trust.
- The assets are then sold. You receive cash from the sale, and the rest of the sale's proceeds are paid to the charitable unitrust.
- The trust will provide you with income for the rest of your life.
- You receive a charitable deduction this year to offset your tax on the cash proceeds that you receive from the sale.
More on sale and unitrust
When transferring a portion of your primary residence to fund a unitrust, you may apply your one-time home exclusion to reduce or eliminate capital gains tax that would otherwise be due from the sale. Your tax advisor can assist you to determine if you should utilize this strategy.
Contact us
If you have any questions about a sale and unitrust, please contact us. We would be happy to assist you and answer any questions you might have.
Donor Stories
Learn how our supporters have made an impact through their acts of giving to Westmont. Be inspired by the various ways of giving used by our alumni, parents and friends.