Have you ever heard the phrase, "giving away the tree while
keeping the fruit"?
This is how we refer to a charitable remainder trust. It's a
plan that promises you a life income (you keep the fruit) from
assets you irrevocably put in trust now (give away the tree) for
our future needs.
Tax Benefits
- An immediate federal income tax deduction
- No up-front capital gains tax when you give
appreciated securities or property
- You can increase your income depending on the
yield
- Save on estate taxes typically without paying a
gift tax
How the Plan Works
You decide how much to put into the trust, the amount of income you
would like
to receive from the donated assets, and whether you want fixed or
variable payments.
This last choice introduces the two basic charitable remainder
trusts:
- The annuity trust pays you, year after year, the same
dollar amount you choose at the start, regardless of fluctuations
in trust investments.
- The unitrust pays you, each year, a variable amount
based on a fixed percentage of the fair market value of the trust
assets, redetermined annually.
After your lifetime, the trust income can continue for someone
else's lifetime before the remaining assets are given to St. John's
University.
Enjoy the Fruits of Your Benevolence
Besides your own financial security, you receive the satisfaction
of supporting our important work. Call us to help you and your tax
advisors arrange a plan tailored for your personal situation.
Please call Susan Damiani at (718) 990-7562, or e-mail damianis@stjohns.edu, for
more information.