A charitable remainder trust is a planned gift that provides you with immediate tax relief today while providing you with a steady cash flow for the remainder of your life. After your lifetime, your gift is transferred to the Islands Trust Fund to be turned into a significant conservation legacy for the future.
A charitable remainder trusts is a separately invested and managed trust that pays a percentage of its principle, re-valued annually, to you and/or other income beneficiaries you name for life or a term of years. You can fund a charitable remainder trust with cash, stocks, bonds, or mutual funds that you wish to leave to the Trust Fund Board. You would receive a receipt for income tax purposes from the Islands Trust Fund based on the market value of the gift, your age, and current interest rates. You would receive the annual income from the trust for as long as you or your spouse lives. Upon your death, or the death of a surviving spouse, the capital in the trust would go to the Islands Trust Fund without triggering capital gains tax for your estate.
With a charitable remainder trust, you get the satisfaction of making a significant gift that benefits you now and the Islands Trust Fund later.
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We recommend anyone contemplating a planned gift talk with an independent financial advisor. If your advisor is not familiar with an option we describe here, we would be happy to provide additional information to them.
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