Charitable Remainder Trusts
Charitable remainder trusts are a way for donors to make a sizable commitment while maintaining the use of their assets for the duration of their life or the term of the trust. Assets placed in the trust can include: cash, stocks, bond, securities and other investments.
If you establish a charitable remainder trust, you will receive a tax receipt for the present value of your assets calculated using life expectancy and prevailing discount rates at the time the trust is established.
By establishing a charitable remainder trust, you will:
- receive a charitable tax receipt at the time the trust is established;
- be able to carry the excess tax credit forward for up to five years if your gift exceeds 75% of your net income in the year that the gift is made;
- receive lifetime income from your donation;
- avoid probate and maintain the privacy of the details of your gift.
For more information on charitable remainder trusts, please contact Martha Drake, Executive Director, Advancement, by email at email@example.com or by telephone at 416-946-0097.
This information is general in nature and does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning and/or financial advice before deciding on your course of action.