What is a Charitable remainder trust?
A charitable remainder trust is an irrevocable trust that provides income to non-charitable beneficiaries for a specified period, with the remainder interest passing to one or more qualified charitable organizations. The trust enables donors to receive immediate charitable income tax deductions, defer capital gains taxes on contributed appreciated assets, and generate income streams for life or a term of years. CRTs must distribute annually to income beneficiaries and maintain at least a 10% charitable remainder interest. The trust provides immediate tax deductions while working alongside strategies like Tax loss harvesting for sophisticated estate and tax planning for high-net-worth individuals.
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