“You think I helped you, but you helped me. Now I don’t have to worry. The trust gives me income to take care of myself and my husband. And I thank God for that.” – Pat Chow
Pat Chow says about setting up her charitable remainder trust through the Asian Pacific Fund. Selling her rental property freed her from having to manage the property. The sale proceeds went into the trust, which provides Pat and C.K. income during their lifetime. Monthly payments from the trust are double their previous rental income. These additional funds are important to Pat and C.K. because they, like many retirees, live on a fixed income.
In addition to gaining financial security through the charitable trust, Pat and C.K. were able to avoid capital gains taxes, and received a deduction the year they made their gift. They have directed the funds, after they are gone, to their church and to Asian Americans in need.
Pat says she trusted the Fund to help her through the process, and is happy she’s able to continue giving back to her community.