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Charitable Remainder Trust

Charitable Remainder Trust

This separately managed trust can be established to provide income to one or more beneficiaries for lifetime or a set number of years (not to exceed 20). It can be tailored to meet your specific requirements with respect to term, payout rate (at least 5 percent), and whether you want variable income (unitrust) or fixed income (annuity trust). A charitable remainder trust can be funded with a contribution of $150,000 or more in cash or other assets.

Charitable remainder trusts are frequently used to receive testamentary transfers of remaining assets in qualified retirement plans to reduce the estate's income tax liability. The trust also provides a charitable deduction to the estate for estate tax purposes.