Charitable Remainder Trusts
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Looking for a way to give Fred Hutch a significant gift? If you have built up a large estate and are also looking for ways to receive reliable payments, you may want to check out the advantages of setting up a charitable remainder trust.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you use to create the trust.
Benefits of a charitable remainder trust include:
- A partial charitable income tax deduction
- Potential for increased income
- Up-front capital gains tax avoidance
You can receive payments with charitable remainder trusts in two ways:
The annuity trust pays you, each year for your lifetime or a set term of up to 20 years, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.
The unitrust pays you, each year for your lifetime or a set term of up to 20 years, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments to help offset inflation. If the value decreases, however, so will your payments.
A Grandson's Legacy
Jim and Diane Watson built their life around family. They were filled with joy when their first grandchild arrived. But sadly, leukemia took his life when he was only eight months old. Diane and Jim named Fred Hutch as the beneficiary of their charitable trust so that they could support pediatric leukemia research and be involved in starting new cures and better treatment options.