Income-producing assets that are expected to gain in value such as stock or income-producing real estate are irrevocably transferred to a trust.

The Library receives income from the trust for a specified number of years, after which the property in the trust is transferred to the heirs without the imposition of any additional taxes.

An immediate charitable deduction on your gift tax return is available for the present value of the total income stream the Library will receive during the trust term.

This gift can reduce or effectively eliminate the gift and/or estate tax that would normally be payable on the transfer of these assets to your heirs.