Charitable Remainder Trust

It is possible to give and receive at the same time

For caring people, decisions regarding estate management can be challenging. Maintaining financial health for one's self, spouse, children, loved ones, and supporting a favorite charity can be a challenging task. However, there is a way to make your assets work for you, your family and others.

A Charitable Remainder Trust (CRT) provides many options and opportunities. Lifetime income, tax benefits, and helping your favorite charity can be accomplished with the same dollars. When assets like securities, cash, or real estate are irrevocably transferred to the trust, the trustee of your choice manages the trust and makes income distributions to you and/or others as specified in the trust document. The income can be for life or a term, not to exceed 20 years. After the completion of all income payments to the beneficiaries, the balance remaining in the trust is distributed to one or more of your favorite charities named in the trust.

Charitable Remainder Trusts entitle itemizers to an income tax deduction, preferential treatment of capital gains tax and can be beneficial for those who have an estate that will be subject to Federal Estate Taxes. Individuals should discuss tax implications with their personal advisors.

Many Americans have found that creating a Charitable Reminder Trust has given them great personal satisfaction. The trust can be an effective way for one to achieve financial and personal goals as well as satisfying a charitable intent.

The Salvation Army offers a complementary report on Charitable Remainder Trusts. Call 800 254 0229 or e-mail your request to: Donna.Grove@uss.salvationarmy.org.