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Gifts of Partnership Interests
Gifts of transferable partnership interests can benefit both you and The University of North Carolina at Asheville Foundation, Inc. Partnership interests can be gifted outright or, in certain cases, used to fund life-income arrangements such as a Charitable Remainder Trust. They can be given during your lifetime or at your death through your estate. Gifts of partnership interests qualify for a charitable deduction based on (but not necessarily equal to) the difference between your share of the fair market value of the partnership’s assets and your share of the partnership’s liabilities. Examples of partnership interests are: real estate partnerships, oil and gas partnerships, general business partnerships, and Limited Liability Company interests. Gifts of partnership interests have legal and tax implications that should be carefully reviewed by counsel before proceeding.
This information is not intended to be considered legal, tax or other professional advice. We encourage you to consult an attorney and/or professional tax advisor before making any material decisions regarding this gift option and other matters regarding charitable giving.
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