Charitable Remainder Unitrust
These plans can be very useful to donors when property contributed is subject to capital gains tax. Examples are stock, real estate, and business interests. Capital gains tax is generally avoided, and income is paid to the donor (and spouse, if desired) for the rest of his or her life. In some cases, donors decide to continue payment to heirs for a period of time, as well.
To create a charitable reminder trust, set up a trust and transfer the property you want to donate to it. The church often serves as trustee and manages or invests the property so it will produce income for you. The trust then pays you (or someone you name) a portion of the income generated by the trust property for a specified number of years, or for your whole life. You specify the payment period in the trust document. Then, at your passing or the end of the period you set, the remaining property goes to the church for the purpose you select.
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If you have any questions about a charitable remainder unitrust, please contact us. We would be happy to assist you and answer any questions you might have.