Tax-Smart Giving with a Charitable Trust

When planning your estate in a way that benefits your loved ones, you might also want to consider a charitable giving strategy to support your favorite charity. In addition to the sense of satisfaction that charitable contributions bring, your generosity may have tax benefits. And, if you make your gift in trust, you can continue to receive an income from the assets you have donated.

If you expect to make a large charitable gift, consider setting up a charitable remainder trust during your lifetime. This unique giving strategy may deliver a significant benefit — a lifetime stream of income for you or another noncharitable beneficiary you name. With a properly structured charitable remainder trust, you can make a gift, avoid estate taxes on the donated assets, and secure an income-tax deduction at the time you make the gift — without having to give up all benefits from the assets until sometime in the future.

We would be happy to explain in more detail how a charitable remainder trust strategy works. Please contact us at 804-327-5749 if you’d like to discuss your charitable giving plans.