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Define charitable remainder trust, please
Posted 11 January, 2010 by Madalynn Sweeney from Tultepec, MexicoSorcerer, thank you for a most superb site, Sorcerer! Although i'm not surely an inexperienced user, there is a term that i didn't conceive: what does charitable remainder trust mean?FX Sorcerer Answers:Thanks for your kind words, Madalynn. Charitable remainder trust is A tax-exempt irrevocable trust designed to reduce the taxable income of individuals by first dispersing income to the beneficiaries of the trust for a specified period of time and then donating the remainder of the trust to the designated charity. The whole idea of a charitable remainder trust is to reduce taxes. This is done by first donating assets into the trust and then having it pay the beneficiary for a stated period of time. Once this time-frame expires, the remainder of the estate is transferred to the charities deemed as beneficiaries.Go to
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