Charitable Remainder Annuity Trust
Are you looking for a way to receive fixed income for life or a number of years? Are you concerned about the high cost of capital gains tax with the sale of an appreciated asset? Perhaps you recently sold property and are looking for a way to save on taxes and plan for retirement. A charitable remainder annuity trust may offer the solutions you need.
How a charitable remainder annuity trust works
A charitable remainder annuity trust pays a fixed amount each year based on the value of the property at the time the trust is funded.
- You transfer cash or assets to fund a charitable remainder annuity trust.
- In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free.
- The trust is invested to pay fixed income to you or any other trust beneficiaries you select based on a life, lives, or a term of up to 20 years.
- You receive an income tax deduction in the year you transfer assets to the trust.
- Our ministry receives benefits from what remains in the trust after all the trust payments have been made.
donor or designee
Benefits of a charitable remainder annuity trust
- Receive fixed income for life or a term of up to 20 years
- Avoid capital gains tax on the sale of your appreciated assets
- Receive an immediate charitable income tax deduction for the charitable remainder portion of your gift to The Wilds Christian Association, Inc.
If you have any questions about charitable remainder annuity trusts, please contact us. We would be happy to assist you and answer any questions you might have.