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A Gift, Plus Income for Life

A Gift, Plus Income for Life

Two retired public school teachers, Janice and Ron, had worked hard to buy, make improvements to, and manage rental property. As they neared retirement, they wanted to make a substantial gift to help CSUMB students forever.

Janice: We had both dreamed of providing a major scholarship endowment for CSUMB students while still providing for our retirement, which includes our adventures to remote spots around the world.

Ron: The properties had gone up rapidly in value, and frankly, we were getting a little tired of fixing everything and also paying for insurance and taxes. We wanted to rid ourselves of the property but still have an income, and try to avoid the capital gains taxes.

Janice: We learned that we could put the rental into a special trust. The rental could be sold tax free within the trust and the cash invested for growth. We receive an income for life from the trust, which allows us to enjoy our traveling. And we have achieved our dream of helping CSUMB students in perpetuity.

Ron: And I don't have to fix anything anymore, or pay those bills! Instead, we are able to help future generations of students while enjoying our retirement.