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Charitable Remainder Trust
Generate Income, Reduce Tax Liability, Do Good
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How it works: Charitable Remainder Trusts are an Estate Planning tool that might allow you to earn income while reducing both income tax now, as well as estate taxes after you pass away. These tax-exempt Irrevocable Trusts are set up to distribute income to a named beneficiary (you or someone else) for a set duration of time. At the end of that time period, any value remaining in the Trust is dispersed to a predetermined charity.
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$6,495 API Charitable Remainder Trust Benefits:
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Potentially Reduce Income Taxes: An effective tool to use in your Estate Planning efforts if you’re looking for ways to potentially reduce tax liability. Please seek advice from a CPA.
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Asset Conversion: Convert any appreciated asset or assets into something that offers lifetime income
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Capital Gains: Eliminate capital gains when assets are eventually sold.
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Do Good In The World: Benefit a charity or charities. Allow charities to plan for your contribution, expecting future benefits from the Trust.
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Asset Protection: Earn potential protection against creditors for the asset(s) inside the CRT
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Income Planning: Earn more income now (and throughout your life) than you would if you just sold assets on your own.
A Charitable Remainder Trust (CRT) can be a smart, strategic vehicle used to generate income, potentially reduce tax liability and do good for a charity.
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The information contained on this page is intended to help small entities comply with the beneficial ownership information reporting rule promulgated by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). * This page is explanatory only and does not supplement or modify any obligations imposed by statute or regulation. Additionally, this page does not supersede more recent guidance documents issued by FinCEN. For additional information, consult The Reporting Rule, which implements Section 6403 of the Corporate Transparency Act. The rule describes who must file a BOI report, what information they must provide, and when they must file the reports. The Reporting Rule is found at 1010.380 in title 31 of the Code of Federal Regulations (CFR).