CHARITABLE REMAINDER TRUSTS
Is there a Charitable Remainder Trust (CRT) in your Future?
Trusts have been used for centuries to manage property designated for charitable use. Today, the Charitable Remainder Trust (CRT) is used to help you make a significant gift in support of your interest in All Souls and its ministries while accomplishing other financial goals for you.
How does a CRT work? With the help of appropriate advisors, you can transfer property (cash or other assets) to an irrevocable trust and designate that All Souls will receive the assets when the trust ends. You may specify that payments from the trust be made to you and/or one or more others for life. As an alternative you can choose to provide an income for a period up to 20 years, or certain combinations of lives and terms of years.
You can choose a level of fixed income at the time the trust is created or the trust can be set up in such a way that income can fluctuate over time with the performance of the assets in the trust. At the end of the trust period, the remaining property (the charitable remainder) becomes the property of All Souls.
Since the property transferred to the trust will be used for charitable purposes in the future, gift, estate and income tax deductions equal to the value of the gift portion of the trust are allowed in the year of the gift. Furthermore, if you transfer appreciated assets, such as appreciated securities, to the trust you avoid having to pay capital gains tax on these transfers. Also if these securities were paying little or no income, you may now enjoy an income stream that was not otherwise available.
Through a CRT you may be able to enhance your income, receive tax benefits and enjoy the knowledge that the funds remaining when the trust ends will be devoted to All Souls. Our church would benefit by your designating the church to be the recipient of the trust assets. Along with your financial advisor, All Souls has programs for CRTs and other planned giving possibilities. We would be happy to discuss CRTs or any other planned giving topics with you.
Please contact the church office for further information.