If you are considering a future gift to Jewish Family and Child Service but would like to receive the tax benefits today, a charitable trust arrangement may be the appropriate gift. Like annuities, establishing a remainder trust or a gift of a residual interest can ensure income from or continued entitlement to the use of a property during your lifetime while providing immediate tax relief.
You may consider one of two charitable trust arrangements:
Charitable Remainder Trust. With a donation funded from, for example, cash, securities or real estate, you may create a charitable remainder trust by transferring an asset to a trust. You will receive the income generated by the trust for life or a term of years, while Jewish Family and Child Service will receive the ‘remainder’ interest of the trust in the future.
Charitable Residual Interest Trust. A gift of residual interest allows you to donate an asset (such as your home, a work of art or other, similar property of value) to Jewish Family and Child Service but retain the right to use the property during your lifetime, or the lifetime of a family member.
Donations of remainder and residual interest are both irrevocable gifts and, therefore, are eligible for an immediate tax receipt based on the present value of the property and other factors.
Brenda Gurvey | Development Manager
416-638-7800 x 6226 |