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Charitable Remainder Unitrust
For more information about planned giving, please contact John Garcia at 401-606-4615 or email John.Garcia@lifespan.org.
What is a Charitable Remainder Unitrust?
With a charitable remainder trust, you or other named individuals can receive income each year for life or a period (not exceeding 20 years) from assets you give to the trust you create. Payments can be either variable or a fixed amount. After the life of the named individuals or the set period of years, the balance in the trust goes to support Rhode Island Hospital Foundation.
A charitable remainder unitrust can be arranged for gifts of $100,000 or more.
- Steady income for you or your chosen beneficiary for a fixed term of years, or for life.
- Up-front capital gains tax avoidance.
- A one-time charitable tax deduction for a portion of your gift.
- Potential for increased income.
Below is an example based upon two lives, ages 65 and 66, with appreciated securities of $100,000 with a cost basis of $25,000.
Immediate. Charitable income deduction of $34,481.
Annual. First year payments of $5,000. Payments will vary in future and continue for lives of beneficiaries, ages 65 and 66.
Future. Rhode Island Hospital will receive remaining principal when trust ends. May reduce estate taxes and costs.