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WHAT?
If you have taxable assets to your estate or property, you can use
those assets to establish a trust fund for students or other charitable
causes. When a charitable remainder trust is set up, assets are
transferred to an irrevocable trust -- that is, a trust that cannot
be terminated once established.
WHY?
A charitable remainder trust removes the assets from your estate,
so estate taxes won’t be paid on those assets when you die.
You also reduce your current income taxes with a charitable income
tax deduction equal to some portion of the gift.
HOW?
You can transfer unmortgaged property to fund a charitable remainder
trust. You can sell the property/asset, paying no capital gains,
and reinvest in income-producing assets. In most cases, a person
receives income from the trust while alive. Upon death, the remaining
trust assets go to the charity chosen.
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> Charitable Remainder Trusts
> Giving
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> Back to Planned Giving
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