Life Income Giving

Charitable Remainder Trust

A charitable remainder trust is an agreement between a donor, such as yourself, and a charitable organization, such as the Capuchin friars, which provides you and another person, if so desired, with a lifetime income.

There are two basic forms of charitable remainder trusts: Annuity and Unitrusts.

This instrument is often used to guarantee income for the future, pass assets to children, have a comprehensive financial plan or save income and estate taxes. It is also used to increase present spendable income, provide financial security for a spouse, provide for a charitable organization, and achieve the peace of mind that comes from good planning.

There are definite tax advantages that attach to a charitable remainder trust. It can be a charitable deduction. Furthermore it may result in a reduction of estate taxes, eliminate gift taxes and avoid capital gains taxes. Moreover, there is a five year carryover.

In addition to tax advantages there may also be income advantages, including increasing spendable income. There is a guaranteed income for life, potential future income increases, and income passing to others without interruption.

The charitable remainder trust has the effect of simplifying estate planning and places the trust property outside probate. Other benefits include the ability to make future additions to the trust and taking personal satisfaction that comes from helping others.

In addition to speaking with your attorney, you may wish to receive more information from the Capuchin Development Center. Feel free to contact us using the information to the right or by completing the online form below.

Life Income Giving Query Form

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