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Your path to this gift:
You're considering a gift made during your lifetime > You hold a transferable interest in a viable investment partnership > You want to save both income and capital gains tax
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Gifts of transferable partnership interests -- primarily in real estate or oil and gas ventures -- can benefit both you and us. Gifts are usually made to us outright, but in some cases may be used to fund a life-income gift such as a unitrust. Donors who invested in a partnership to gain the tax losses generated in its early years may look to donate their interest once income starts flowing to the partners.
Your charitable deduction will be based on the difference between your share of the fair market value of the partnership and your share of its liabilities.
Both you and we must take some preliminary steps before you transfer partnership interests. You should first determine if the partnership allows shares to be transferred. For our part, because gifts of partnership interests involve the University of California, Irvine in issues of marketability, taxation, liability, and the potential of later assessments by the partnership, our Treasurer must first review and approve any transfer.
If you are considering a gift of a partnership interest, first consult with your attorney and accountant. We can work with them to review the benefits of a gift.
Email us, complete the personal illustration form, or call us at 949-824-8384 so that we can assist you through every step of the process.
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