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Usually easy to give and easy to receive. These are assets already in the possession of the donor and gifting them do not affect cashflow during lifetime.
These gifting vehicles return a steady stream of income to the donor and other beneficiaries.
These gifts help maintain the benefits of owning an asset while making a gift.
Trusts assure that financial, familial and estate matters remain private. Trusts do not go through a probate process and are not subject to any kind of public review.
Home » Simple Gifts » Intellectual Rights » Intellectual Rights: Questions Donors Ask
In many cases, yes, and considerable tax benefits can result; however, giving intellectual property is more complicated than giving tangible personal property. Be prepared to assist donors with their gift intention. Giving intellectual property will require that the assets have had a recent qualified appraisal.
In some cases, the answer is yes. Intellectual property can be transferred to a charitable remainder trust, which will provide the donor with tax-deduction benefits and set up an income stream for beneficiaries such as a spouse, children, and/or other loved ones. Only personal property with a value of $50,000 or greater should be considered for this purpose.
No. Because gifts of intellectual property are illiquid assets you will apply the property to your charitable purposes and not sell it when it is received. Note further that if you were to dispose of the property within three years of receiving it, donors will be required to report to the IRS certain information about the gift and its disposal. Such a filing could raise questions about the legitimacy of the fair-market-value deduction donors claimed in the year of contribution, and they could be required to adjust their deduction amount.
