What types of assets are best suited to a Charitable Remainder Trust?
” You benefit the most when you donate assets that have greatly increased in value while you have owned them. These include real estate, stocks, other securities, and businesses. In most cases, you cannot donate real estate that has a mortgage against it. You may benefit enough from this arrange-ment to justify paying off the loan in full. “Who should we name as trustee?” You must make sure the Trust is managed correctly. Otherwise, you could lose the tax benefits and suffer penalties. The best trustee is a person or corporation experienced with investments and accounting. You can serve as trustee. You can select a corporate trustee, such as a Trust Company or Bank. Or you can name the charity to manage the Trust, if they agree to provide this service. You should interview several potential trustees and look at their experience managing investments before you decide. Since you are relying on the trustee to make sure you have income the rest of your life, your deci-sion is important. “C
