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Give It Twice Trust - Help Family and Charity

You may be looking for a way to provide your children with income while making a gift to Rocky Hill Country Day School. The "give it twice" trust is a popular option that allows you to transfer your IRA or other asset at death to fund a term of years charitable remainder unitrust. We call this kind of unitrust a give it twice trust because you can use the trust to pay income first to your family for a number of years and then distribute the balance of the trust to charity.

Give it Twice Trust
IRA
Unitrust
Children
RHCDS
Charity image

Benefits of a give it twice trust

  • Use the full value of your unused retirement account to provide income to your surviving spouse and to provide income to children or other loved ones for a specified period of time
  • Create an estate tax deduction and savings from the charitable gift
  • Support Rocky Hill Country Day School

How a give it twice trust works

  1. Consult your attorney to establish a charitable remainder unitrust.
  2. You complete an IRA or other retirement account beneficiary designation form, naming the charitable trust as the beneficiary, and return the form to the account custodian.
  3. When you pass away, the custodian will transfer your retirement account to the charitable trust.
  4. The trust will pay income to your spouse, children or other individual beneficiaries for their life, term of years or life plus term of years.
  5. At the conclusion of the payments, the balance of the trust will be transferred to Rocky Hill Country Day School.

Contact us

If you have any questions about a give it twice trust, please contact us. We would be happy to assist you and answer any questions you might have.

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Donor Scenario

Part Gift and Part Sale

Part Gift and Part Sale
Susan and Kevin bought a vacant lot along Lake Michigan many years ago. They had planned to build a second home so that their family could spend their summers along the lake. However, as time went on, Kevin's job kept him in town and the children grew up before Susan and Kevin had the financial resources to build on the land.

Kevin: Over the years, that lot increased in value. We paid about $40,000 for the lakeside property, and it is now worth almost $500,000.

Susan: The lot has gone up greatly in value, and with the children out of the house, we were thinking of selling the property. We want to avoid paying so much tax on the sale. We were thinking of making a gift of 25% of the property to our favorite charity.

Kevin: I happened to be talking to a CPA at a community luncheon. He mentioned that we could probably give about twice as much with almost the same cost if we gave 25% of the property (prior to the sale) rather than writing a check after the sale.

After talking to their tax advisor, Kevin and Susan discovered that if they gave a 25% interest in the property to charity, they would receive two benefits. First, they would receive an income tax deduction for the value of the gift. Second, they could avoid capital gains tax on the portion of the property that they gave to charity.

Susan: That is what we decided to do. By giving charity a 25% interest in the property prior to the sale, we saved the capital gains tax on that part. The deduction offset a large portion of the tax on the $375,000 we received when the property actually sold. We are very pleased with the "double benefit" from giving the property, and our favorite charity received $125,000, a very nice gift.

Is a part gift and part sale right for you?


A part gift and part sale of an appreciated asset is an excellent tax strategy. You can use the deduction from the gift portion to offset the capital gains from the sale portion of the transaction. If you would like to learn more about part gift and part sale strategies, please give us a call. We would welcome the opportunity to answer your questions.

*Please note: The names and image above are representative of a typical donor and may or may not be an actual donor to our organization. Since your benefits may be different, you may want to click here to view an example of your benefits.