A charitable remainder unitrust (CRUT), like a charitable gift annuity, will pay you income in exchange for your current gift. CRUTs, however, offer more options and a greater ability to tailor a plan to meet your individual needs. With a CRUT:
- Your income will be based on a fixed percentage of the value of the trust principal, so your payments will vary with overall market conditions. You and your trustee will select a payout rate based on your age and on your need for future growth.
- You can have payments made to you, to you and your spouse or partner, or to anyone you choose. You can choose to have income paid for the life of one person, or jointly and to the last survivor for a couple. You can elect to have payments made for life or for a specific number of years.
- You can donate cash, appreciated stocks, real estate that is free of debt or tangible property.
- You can appoint your own bank, broker or financial planner as trustee to manage the investments and distributions of your trust.
Because CRUTs offer so many options, the best way to plan a gift is to call the foundation office, 718.951.5074, and ask for Beth Farryn Levine or Michael Iadarola. Beth or Michael will be happy to answer your questions and to prepare detailed illustrations to share with your own financial professional.