Charitable remainder trusts are irrevocable trusts that let you donate assets to charity and draw annual income for life or for a specific time period.
from the IRS website
Benefits of a Charitable Trust:
- 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.