Photo: Paul Jeffrey/CWS

Planned Giving

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A Gift of Real Estate

A Gift of Real Estate
While they have been outstanding supporters during their lifetimes, Austin and Mary Jo Coe have found a way to make their largest gifts to Church World Service beyond their lifetimes. Using a rental property they own in their hometown of Ventura, California, the Coes' gift plan will provide them income for the rest of their lives and a future lump sum distribution to Church World Service.

"Mary Jo and I have always tithed" Austin notes, "but we have found new joy in giving from our investment assets to church and charity". The Coes planned for their largest gift to Church World Service through creation of a Charitable Remainder Unitrust.

During his later years as a minister of the Christian Church (Disciples of Christ) in the early 1970's Austin Coe and Mary Jo, a teacher, invested in real estate. The Coes saw that real property in Ventura would gain significantly in value and provide income for retirement. Now, over thirty years later, Austin was looking to cut back on his property management duties and the Charitable Remainder Unitrust offered the best solution.

"When our accountant informed us that a cash sale of a rental property would force us to pay about 65 % of the selling price of the house in capital gain taxes and recaptured depreciation we liked what the Unitrust offered" Austin declared. Among the reasons Austin and Mary Jo cited for transferring the rental property to a Charitable Remainder Unitrust were:

1) reduce time and energy spent in property management
2) save the entire sale proceeds for the gift to charity instead of paying a considerable sum in taxes.
3) receive a large charitable deduction to lessen income taxes in the year the Unitrust was created
4) receive an income of at least 5% annually times the value of the unitrust principal for both our lifetimes

As one of the charitable beneficiaries, which will benefit from the ultimate distribution of the trust principal, Church World Service celebrates the Coes' foresight and generosity. Their gift, invested along with other CWS endowment funds, will generate support for our ministries in perpetuity.

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