Trusts can be created to
accomplish a wide range of goals. Some people rely on them to reduce property management chores. Others use trusts to diversify their holdings in a single issue of stock. Trusts allow a person to arrange for a property to be put first to one use and then to another. A
charitable remainder trust (CRT) offers a way to make
a meaningful legacy gift to the Surfrider Foundation
while first providing income for yourself or others
you name.
CRT's work like this:
- You, as the donor, create a trust with the assistance of an appropriate advisor.
- You transfer the cash or other property to the trust to be managed by a trustee. The trustee can be you, a bank or trust company or a charity.
- You receive an income tax deduction in the year you create the trust.
- The trustee manages the trust’s holdings for the beneficiaries. You or others you name are called the “income beneficiaries” and the Surfrider Foundation is the “charitable beneficiary.”
- Each year a distribution from the assets in the trust is paid to the income beneficiaries.
- Payments continue until the trust is “dissolved.” The trust document specifies when this is to occur, such as the death of the last beneficiary or after a stated period of time.
- When the trust is dissolved its assets are distributed to the Surfrider Foundation. This gift portion is known as the “charitable remainder.”
Charitable remainder trusts can be designed to pay either fixed, unchanging income or an income that will vary with the performance of the trust assets. The type most appropriate for you will of course depend upon your needs and circumstances. The
Surfrider Foundation can help you determine which type
of CRT will work best for you.
At no obligation or cost,
the Surfrider Foundation will work with you and your
professional advisors to determine which type of Charitable
Remainder Trust will best address your particular needs.
With our expertise and illustration capabilities, you
will be equipped to make an informed decision as to
whether and which charitable remainder trust income for
living
strategy will be most appropriate for you and your
circumstances.
To learn more contact Steve Blank, Surfrider Foundation’s
Director of Development at 800-743-SURF x. 40 or info@surfrider.org
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