Ep.101 - Charitable Remainder Trusts: Give More, Create Income & Leave a Legacy

What if an appreciated asset could provide income for you today and ultimately create a lasting impact for a cause you care about?

A Charitable Remainder Trust, or CRT, is an estate and charitable-giving strategy designed for people who want to be generous without simply giving an asset away and receiving nothing from it during their lifetime.

In this episode of Rich Young & Powerful, Andrew McNair breaks down how Charitable Remainder Trusts work and why they may appeal to families with highly appreciated assets who also have a desire to give.

You’ll learn:

• What a Charitable Remainder Trust is and who may benefit from one

• How appreciated assets can be transferred into a CRT

• How the trust can create an income stream for the donor or other beneficiaries

• The role charitable tax deductions and capital gains considerations can play

• Why the assets placed into a CRT are irrevocable

• What happens to the remaining assets at the end of the trust term

• Important limitations and tradeoffs to understand before establishing one

• Why estate, tax, investment, and charitable professionals may all need to be part of the conversation