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Charitable remainder trusts a proven strategy for reducing estate and income taxes through charitable giving by Peter J. Fagan

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Published by International Association for Financial Planning, Irwin Professional Pub. in [Atlanta, Ga.], Chicago .
Written in English

Subjects:

Places:

  • United States.

Subjects:

  • Income tax deductions for charitable contributions -- United States.,
  • Charitable uses, trusts, and foundations -- Taxation -- United States.,
  • Tax planning -- United States.

Book details:

Edition Notes

StatementPeter J. Fagan.
Classifications
LC ClassificationsKF6388 .F34 1996
The Physical Object
Paginationxiv, 208 p. :
Number of Pages208
ID Numbers
Open LibraryOL790005M
ISBN 100786302291
LC Control Number95022443

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  A look at charitable remainder trust that offers income to the donors or their beneficiaries while alive, and then bequeaths the remainder after death to charities.   Big Picture with Charitable Remainder Trusts. Before I get immersed in the details, the big picture that I’m presenting in this post is that there are many situations where your children would Author: James Lange. A charitable remainder trust is a tax-exempt irrevocable trust designed to reduce the taxable income of individuals. A charitable remainder trust disperses income to the trust beneficiaries for a Author: Julia Kagan.   charitable remainder trusts, part 1 of 4 Links to previous sections of book are found at the end of each section. Charitable Remainder Trusts are the most powerful and flexible charitable planning vehicles available to donors and charitable planners.

Charitable remainder trust: When you place property in a charitable remainder trust, your beneficiary receives a specified amount of money regularly for a period of time. After that period of time has elapsed, whatever is left over goes to the charity. Instead of some finite period of time, you can set up a charitable remainder trust to cover the life of your beneficiary. This book will acquaint you with the near magical possibilities of a tax-saving, income-producing legal device known as a "charitable remainder trust" or "CRT." Although "CRT" is the currently popular term, these trusts are also known as "life income" and "wealth accumulation" trusts.4/5(1). the charitable remainder trust Download the charitable remainder trust or read online books in PDF, EPUB, Tuebl, and Mobi Format. Click Download or Read Online button to get the charitable remainder trust book now. This site is like a library, Use search box in the widget to get ebook that you want. Why Non-Profits Love Charitable Remainder Trusts. From churches to universities, opera houses to hospitals, charities love charitable remainder trusts because the gifts are irrevocable. Although the charitable beneficiary can be changed in some situations, once assets are transferred into a CRT, that money is destined for the non-profit world.

A charitable trust de­scribed in Internal Revenue Code section (a)(1) is a trust that is not tax exempt, all of the unexpired interests of which are devoted to one or more charitable purposes, and for which a charitable contribu­tion deduction was allowed under a specific sec­tion of the Internal Revenue Code. That said, the utilization of trusts is ultimately for charity, as no assets in the CRT go to any heirs. CRTs come in two forms: 1. Charitable Remainder Annuity Trust. A charitable remainder annuity trust (CRAT) pays a specific amount to an individual or individuals, either once per year or at more frequent intervals. A Charitable Remainder Trust is a special tax-exempt irrevocable trust arrangement written to comply with federal tax laws and regulations. You transfer cash or assets (especially appreciated assets) to the trust and may receive income for life or, if you choose, a certain term of years (not to exceed 20).   A Charitable Remainder Trust (CRT) allows you, the “Trustmaker” or “Grantor”, to transfer highly-appreciated assets to the Charitable Remainder Trust without incurring capital gains tax. Depending on the structure of the transaction, you may receive .