One of life’s greatest satisfactions is to give of oneself to help others less fortunate.  When we look beyond ourselves and focus on helping others, we find an increased degree of fulfillment and happiness.

Did you realize you can work charitable giving into your estate plan in a way that will provide regular income and multiple tax advantages to you and your beneficiaries?  By creating a Charitable Remainder Trust you can avoid capital gains tax and estate taxes.  You can also claim a charitable tax deduction through your donation.

The basics of a Charitable Remainder Trust involve donating an asset to a charity of your choice.  That asset is then sold and the money from the sale is invested and professionally managed.  You then receive monthly payments from the fund, payments that can continue to your beneficiaries even after you pass away.  This allows you to have a permanent philanthropic impact on the world while still providing yourself and your loved ones with regular income and support.

A Charitable Remainder Trust is especially beneficial for highly appreciated assets, allowing you to avoid capital gains taxes upon their sale. It also helps in avoiding estate taxes as the asset is now outside the estate in a protected trust.

A Charitable Remainder Trust provides many benefits beyond the ones listed above, and is an option that should always be looked in to.  You may be surprised by how much it could benefit you, your loved ones and the charity of your choice.  For more information, or to meet with an attorney to discuss Charitable Remainder Trusts at no cost, call MH at 888.222.1328.

About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years.  Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects.  We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead.  Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe.  Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only.  It does not create an attorney-client relationship with any reader and should not be construed as legal advice.  If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.