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Charitable Trusts

There are two main kinds of Charitable Trusts – Charitable Remainder Trusts and Charitable Lead Trusts. The choice between these two options depends on the benefits you seek to obtain.

Benefits of Creating A Charitable Remainder Trust:

The Trustmakers win by (a) gaining a lifetime income, while avoiding capital gains tax upon the sale of appreciated assets; (b) obtaining an immediate income tax deduction that can be carried forward for up to five years; (c) achieving a possible estate tax savings; and (d) creating a wonderful opportunity to accomplish their charitable dreams.

Charitable Lead Trusts

Both Charitable Remainder Trusts and Charitable Lead Trusts (CLT) result in gifts being made to a charity. They differ with respect to the timing of the gift. With a CLT the charity receives the trust’s income and the Trustmaker (or their selected beneficiary) receives the assets remaining at the time the trust terminates.

Good things are possible for those who take the time to properly plan their estates!