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