Charitable Remainder Trust
A charitable remainder trust is a way of donating assets (such as bonds, stock securities, mutual funds or real estate) to the Alzheimer Society Niagara Foundation through a trust agreement that enables you to give today, with immediate tax savings, while retaining use of the asset. After a prescribed period of time or upon your death, the asset is transferred to the Foundation. The result of this planned gift is that you can receive income or use of the property during your life.
A charitable gift annuity can benefit both you and the Alzheimer Society Niagara Foundation. Depending on your age, a charitable annuity allows you to save tax, enjoy a guaranteed income for life and give a significant gift today. This type of gift might be appealing if you:
- Are over the age of 65
- Have accumulated wealth and do not need this portion of your capital to leave for your surviving spouse or heirs
- Are concerned about the amount of tax you pay on your interest-bearing investments
- Wish to increase your after-tax disposable income
- Like the security of fixed, guaranteed income
- Would like worry-free management of your investments
How does a charitable gift annuity work?
A charitable gift annuity is a contractual arrangement with a commercial annuity provider. It will provide you with a tax-preferred annual income guaranteed for life or a specific number of years. Charitable gift annuities are structured in the same way as regular commercial annuities, but they offer distinct advantages due to a charity’s tax-free status.
Last Updated: 07/20/17
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