If there is some portion of your wealth that you'd like to use to benefit non-profits whose work you believe in, you could donate real estate to a charitable remainder unitrust. The trust will be able to sell the real estate free of capital gain tax, and then invest the proceeds to pay income to you and your wife during your lifetimes. You'll also receive a charitable deduction to help offset some of the capital gain tax due on any real estate you sell outright. There is a lot more to this, but contact your favorite charities and inquire.
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If there is some portion of your wealth that you'd like to use to benefit non-profits whose work you believe in, you could donate real estate to a charitable remainder unitrust. The trust will be able to sell the real estate free of capital gain tax, and then invest the proceeds to pay income to you and your wife during your lifetimes. You'll also receive a charitable deduction to help offset some of the capital gain tax due on any real estate you sell outright. There is a lot more to this, but contact your favorite charities and inquire.
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Link to comment from April 3, 2023