Charitable Remainder Unitrust
A charitable remainder unitrust is a trust that can be funded with cash or other assets, providing you with income, tax benefits, and supporting the work of Oceana with the remainder. If you're concerned about the high cost of capital gains tax, funding a charitable remainder trust with appreciated assets can help you avoid this tax. If you?ve recently sold property and are looking for ways to reduce taxes this year while planning for retirement, a charitable remainder unitrust could be the solution you need!
Benefits of a charitable remainder unitrust
- Receive income for life, for a term of up to 20 years or life plus a term of up to 20 years
- Avoid capital gains on the sale of your appreciated assets
- Receive an immediate charitable income tax deduction for the charitable portion of the trust
- Establish a future legacy gift for our organization
How a charitable remainder unitrust works
- You transfer cash or assets to fund a charitable remainder unitrust.
- If the trust is funded with appreciated assets, it can sell those assets tax-free.
- The trust is then invested to provide income for you or any other beneficiaries you choose, based on a life, multiple lives, a term of up to 20 years, or a combination of life and term up to 20 years.
- You receive an income tax deduction in the year you transfer assets to the trust.
- After all trust payments have been made, Oceana benefits from the remaining funds in the trust.
Other considerations:
- Charitable Remainder Unitrust for Income: A charitable remainder unitrust provides you with income based on the value of the trust's assets.As the trust grows in value, your income has the potential to increase over time.
- Selecting the Right Unitrust Payout: There are various unitrust payout options available to suit your needs. The best option may depend on thetype of asset used to fund the trust. Please consult your tax advisor to determine the most suitable payout option for your situation.
Contact us
If you have any questions about a charitable remainder unitrust, please contact us. We would be happy to assist you and answer your questions. [email protected]