If you own any type of real estate, such as rental property, a second home, farmland, commercial or industrial property, the benefits of a LegacyPlan can help you in realizing a number of objectives:

  • Exit appreciated real estate while eliminating a portion of the taxable gain.
  • Liquidate income-producing property and still receive income.
  • Create an immediate income tax deduction.
  • Exchange real estate for a wealth replacement plan in order to pass value of real estate assets to heirs in a more tax-favored manner.
  • Generate income for yourself and/or a structured inheritance for heirs.
  • Support your favorite charity or non-profit organization.

Here’s how it works:

  • Partner with LegacyTree Foundation (LTF) allowing LTF to facilitate and complete the entire real estate sales process.
  • LTF liquidates the real estate and issues a new LegacyPlan customized for you and your family. Due to our status as a 501 (c) (3) non-profit organization, there is no immediate out of pocket capital gain tax due when you fund a LegacyPlan with real estate. A portion of the capital gains will be completely eliminated and the remaining gain taxes are only due when you begin to receive your income.
  • LTF absorbs closing fees and realtor commissions and issues the new LegacyPlan at the full sale value (less any encumbrances).
  • Receive immediate or deferred income payments for life or specified number of years. The income stream can be directed to you and/or your spouse, your heirs or your favorite charity to help you achieve your personal and philanthropic goals.
  • A tax deduction is created. This deduction can be applied to your tax return to reduce your taxable income reported to the IRS for the first year, with 5 years of carry-forward, if applicable.
  • LTF supports charitable works with a portion of the proceeds from the transaction.

*A LegacyPlan may consist of a charitable gift annuity, a charitable bargain sale with an installment payment contract, or a charitable remainder annuity trust. Not all LegacyPlan programs are available in every state.
LTF is an Oklahoma 501 (c) (3) non-profit organization. LTF does not provide tax, legal or financial advice. Individuals should seek tax, legal, and financial advice from an independent professional advisor.