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Charitable Remainder Trust

Hello, I’m Eric Lawton, President and CEO of Impact Financial here in Guilford, CT

Today I want to share the power of charitable remainder trusts or CRT

A growing number of individuals and families want to use some of their wealth to support the causes and organizations they care about most.

With that in mind, here’s a closer look at one philanthropic tool that many charitably minded people and families use charitable remainder trusts.

Here are 5 quick pointers to explore:

  • Income Stream
  • Tax Differed Growth
  • Charitable Impact
  • Tax Deduction
  • Tax Avoidance on Capital Gains

First, Income Stream: You place your money or appreciated assets in a CRT, which then provides an annual income stream for yourself or other people.

Next, Tax Deferred Growth: Once the beneficiary income stream has ended, the assets that remain in the trust go to one or more charities you’ve selected.

Tax Deduction:  When you fund the CRT, you receive an income tax deduction.

Finally, Capital Gains Tax Avoidance: You can gift appreciated assets to a CRT without paying capital gains tax.

This information is not intended to be a substitute for individualized tax or legal advice.  I suggest you discuss your specific situation with a qualified tax or legal advisor.

This is a brief overview of how a Charitable Remainder Trust works.  For more details, please sign-in below for the full article.  Hope this was helpful – thank you

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