Charitable Remainder Unitrust (CRUT)
The traditional life income plan is a Charitable Remainder Unitrust (CRUT). Here, Cash, securities, real property, or other assets are transferred into the trust. The trustee manages the trust assets and pays you or others you choose a variable income for life or for a term of years. When the trust terminates, the remaining assets in the trust can be transferred to the NISS Foundation.
The typical donor:
- Needs income for life or a specified term of years.
- Desires more income as the trust value increases.
- Tolerates some investment risk to provide for growth.
- Wants to make additional gifts to the trust.
- Is between the ages of 55 and 80.
Gifts features and benefits:
- Income for life (variable payments)
- Available if needed during life (gift at death)
- Assets transferred to the trust can be reinvested
- Ability to choose the trustee (may be the donor)
- Flexible investment possibilities for the beneficiary
|
