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Charitable Remainder Trust (CRT)

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Beneficiaries within a CRT include your income beneficiaries, usually you, your spouse or children, and the charity you select to receive the remainder of the funds. If you are interested in setting up a CRT for your estate, discuss your plan with our Springfield estate planning attorneys at Worsham Law Firm today. We can review your estate and your goals, and help you come up with a thorough charitable trust plan.

OPTIONS FOR RECEIVING FUNDS FROM YOUR CRT

After you have designated a charity to receive the benefits from your trust, you then decide how you want to receive income from your trust in your lifetime. One option is to receive a designated amount each year. This is called a "fixed annuity" income, and you cannot change that income amount for the remainder of your lifetime, nor does it adjust for inflation.

Alternatively, you can receive a designated percentage of that trust each year. This has the advantage of increasing as the trust earns more money, and it does respond to inflation. Our estate planning lawyers can review your distribution options with you and advise you as to the best arrangement for your CRT income.

Benefits of a charitable remainder trust include:

 

You are allowed to receive funds
from your charitable remainder
trust during your lifetime.

 

Income tax deduction as a result of your donations to charity.

 

The trust does not become a tax
liability for your successors in the
event of your death, since
it is not a part of your estate.

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Jonathan D.

Will did an excellent job defending me with my case. I consulted with other Lawyers before talking to Will and was told my chances were very slim and that I should just plead out. Will not only assured me that we could procede with getting the issue resolved the way I wanted but also followed through. He more then came through for me and was only $100 more then what the other guys who would have had me plead out were. Worth every penny for the professionalism he brought to the table as well as the attitude and respect he showed as well. I would absolutly recomend Will to anyone.

Nic S.

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Receive knowledgeable guidance for your charitable remainder trust planning. We can review your estate and your goals, and help you come up with a thorough charitable trust plan.

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