Palliative Care & Hospice Foundation of Catawba Valley

Charitable Remainder Trust

Charitable Remainder Trust offers a way to arrange a gift to the Foundation, Foundation logowhile providing an income for yourself or your loved ones. To establish a CRT, the donor would transfer cash or other assets to a trust. The trustee manages the assets and each year income from the trust would be paid to the beneficiaries. When setting up the trust, the donor must elect regular payments to the Foundation be made in either a fixed dollar amount or a percentage of the remaining balance.
 
Cash or property may be used to fund a Charitable Remainder Trust. Provided the trust meets all the necessary requirements, the donor would be allowed a charitable income tax deduction for a portion of the assets contributed to the trust in the year of the transfer. The advantage of a trust is that the payments can be either variable or fixed, depending on your financial situation. In addition, you would have the option to continue the income to provide for additional beneficiaries. The amount of the deduction, and the portion of income that is taxable would depend on the specific terms of the trust. Although trusts offer tremendous flexibility, they can be expensive to maintain.

Due to the complexity of CRTs and because everyone’s situation is different, you should consult with your attorney before making this or any other planned gift.

Palliative Care & Hospice Foundation of Catawba Valley qualifies under 501(c)(3) of the IRS Code.

» Back to Ways to Give