Charitable Remainder Trusts

Would you like to receive regularly scheduled payments for the rest of your life? Or for a pre-determined number of years? Are you thinking about retirement? Are you thinking about your future? Then check out a Charitable Remainder Trust (CRT).

WHAT
The main focus of a CRT is to reduce taxes. A CRT lets you convert highly appreciated assets – like stock or real estate, into lifetime income. It reduces your income taxes now and estate taxes when you die. You pay no capital gains tax when the asset is sold. And it lets you help one or more of the parishes, schools, or ministries that you care about.

HOW
Transfer your appreciated assets into an irrevocable trust thereby removing the asset from your estate – no estate taxes will be due on it when you die. You also receive an immediate charitable income tax deduction.

The trustee then sells the asset at full market value, paying no capital gains tax, and re-invests the proceeds in income-producing assets. For the rest of your life, the trust pays you an income. When you die, the remaining trust assets go to the parish, school, or charity of your choice. Hence why it’s called a charitable remainder trust.

Are you interested in learning more and seeing if a CRT is the right choice for you? Then contact Scott Hartman, VP of Development, for more information: 614-443-8893 or shartman@catholic-foundation.org.

You can also learn about all the other types of funds we have available to find the right charitable giving option for you! Click on this link for more information.