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Charitable Remainder Trust
A charitable remainder trust is an opportunity for you to make a significant future gift PDF. How does it work?This arrangement is designed for a donor who wants to make a significant future gift to a charity but who needs income now, and for the rest of his or her life.
Under the remainder trust, the charity receives income later. The charity receives the principal remaining following the donor’s passing.
There are two common variations on the charitable remainder trust.
- The Annuity Trust
Under this option, you receive a fixed income every year.
- The Unitrust
Under this option, you receive a percent of fair market value of the trust, which varies from year to year.
What are the benefits?
A charitable remainder trust enables you to receive a tax deduction in the year in which the irrevocable commitment is made and pays tax (a combination of income tax and capital gains tax) on the income at the time it is received.
For more information, contact:
Yasnahia Cortorreal, Vice President, Administration
(800) 457-6676 or (212) 923-4700
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