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June 2018

Giving Now or Later

Charitable trusts are popular because they give donors a tax-advantaged way to benefit both a favorite cause or charity and their loved ones. Charitable remainder trusts (CRTs) and charitable lead trusts (CLTs) are the two most recognizable types of these trusts.


A CRT grants those you name in the trust document the right to take distributions from the trust’s assets for a certain period of time. For example, you might grant a spouse or special needs child the right to take periodic payments from the trust. This arrangement typically ends when the beneficiary dies, at which point the “remainder” of the assets passes to a charitable organization named in the trust.


A CLT is the reverse of a CRT. You might put income-producing assets into the trust for the immediate benefit of a named charitable organization. Then, upon your death, the trust’s assets would pass to your beneficiaries named in the trust. Talk to your financial and tax professionals to learn more.


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