|
|
|
|
|
A charitable remainder trust is an arrangement between three parties: the benefactor, a registered charity and a financial institution. The benefactor makes an immediate and irrevocable donation to the charity. The charity in return agrees to:
Upon the donor's death, the charity becomes the beneficiary of the assets in the trust. This kind of gift is a good way for the benefactor to be assured that his or her generosity will eventually help charitable causes, while at the same time being guaranteed for life the income generated by the donated amount. Note that this type of donation is not part of one's last will and testament, therefore it is protected from the claims of creditors and from persons who wish to contest the will. In addition, it is not subject to probate fees. It should also be noted that unlike an annuity, the income payments from a charitable remainder trust may vary from year to year, depending on whether interest rates have gone up or down. You could select the financial institution of your
choice, but if you prefer we would be delighted to have an agent from a
reputable company explain to you all the different aspects and benefits
of such a plan, in which case we would need to know your age and the
amount involved.
|
|
The Call of the Poor
|
