The Benefits of a Charitable Remainder Trust
Listen as Jack and Kristina walk through a scenario where a charitable remainder trust could benefit his clients who are interested in downsizing their primary residence.
The benefits of a Charitable Remainder Trust include:
- Eliminate capital gains taxes on the amount going into trust
- Receive an income for the term of the trust
- Receive income tax charitable deduction
- Any growth within the trust is tax-free
- The remainder (10% of initial trust) goes to charity at the end of term.
The design of a charitable remainder trust is extremely flexible for the clients when setting it up and Kristina will help you maximize the benefits while minimizing the taxes you pay.