CHARITABLE REMAINDER TRUST ...

... is an excellent tool for those with large equity in their property to convert it into income-producing assets without paying capital gains taxes. First, your Attorney creates an Irrevocable Trust whose beneficiary is your charity. Second, you transfer your assets into this Trust but retain an income interest in them for the remainder of your (and/or your spouses') life. This income is generally taxable.
Upon your (or your spouse's) death the Trust terminates, and the assets are transferred to the charity.