How Do You Set Up A Charitable Remainder Trust?
A charitable remainder trust is a tax-exempt, irrevocable trust where assets (property or money) are donated to a qualified charitable organization. It is a way for the donor to reduce income taxes and contribute to a worthy cause at the same time. Determine which kind of charitable remainder trust (CRT) is best for you to set up. Choose from a charitable remainder annuity trust, a charitable pooled income fund and a charitable remainder unitrust. Enjoy the benefits of charitable remainder trusts when you donate assets into the trust. Under the structure of the charitable remainder trust, the trust will pay the beneficiary for a specified amount of time. After the established time has expired (such as the death of the income beneficiaries), the remainder of the estate assets are donated to the designated charity. Recognize the benefits of no capital gains taxes when you set up a charitable remainder trust. For highly appreciated assets, the savings are immense, and the charity gets the
