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Charitable Remainder Unitrust
For more information about planned giving, please contact Anne Morton Smith, chief development officer at 401-432-1451 or ASmith18@lifespan.org.
What is a Charitable Remainder Unitrust?
With a charitable remainder trust, you or other named individuals can receive income each year for life or a period (not exceeding 20 years) from assets you give to the trust you create. Payments can be either variable or a fixed amount. After the life of the named individuals or the set period of years, the balance in the trust goes to support Bradley Hospital Foundation.
A charitable remainder unitrust can be arranged for gifts of $100,000 or more.
- Steady income for you or your chosen beneficiary for a fixed term of years, or for life.
- Up-front capital gains tax avoidance.
- A one-time charitable tax deduction for a portion of your gift.
- Potential for increased income.
Below is an example based upon two lives, ages 65 and 66, with appreciated securities of $100,000 with a cost basis of $25,000.
- Immediate. Charitable income deduction of $34,481.
- Annual. First year payments of $5,000. Payments will vary in future and continue for lives of beneficiaries, ages 65 and 66.
- Future. Bradley Hospital will receive remaining principal when trust ends. May reduce estate taxes and costs.