Northwest Trustee &
7307 N. Division #303
PO Box 18969
Spokane WA 99228
Our firm manages both residential and commercial properties, which have included everything from clients' homes, rental properties, apartment complexes, office buildings, and acreage. We also actively manage farms and timberland. Regarding personal residences, we annually inspect homes for safety and provide ongoing maintenance to protect the value of the asset and improve the quality of life for the resident. We also monitor and pay taxes and insurance. Properties which are not the residence of the client are managed to produce maximum return to the trust. This includes repairing and remodeling properties for sale or rent, managing rental property, developing vacant land or hiring and monitoring tenant farmers or timber managers.
Farmland used to fund a Charitable Remainder Unitrust
The Charitable Remainder Trust
Herb was introduced to us through his realtor because he needed to sell his farm, as he could no longer operate it due to his age. His big issue was that there was a $600,000 capital gain, and he did not want to pay the tax on it. Additionally, he needed to provide income to his family. He liked the idea of exchanging his farm for an income that would last for his family's lives after which a charity would receive the balance of the trust. His attorney drafted the charitable remainder trust, and Herb's income increased, his family is provided for, and he obtained significant tax benefits.
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