Charitable Remainder Trusts in Arizona and New Mexico

Trusts Related to Charitable Giving

charitable-remainder-trustsCharitable giving in an estate plan does not just involve leaving money to a charity upon death. At every stage in life, everyone can take advantage of the tax benefits of charitable contributions while supporting the social causes that are most important to them by setting up Charitable Remainder Trusts.

Morris Hall, PLLC, can help you review your financial situation and determine the best way to meet your charitable giving wishes. We make it possible for you to benefit fully from the tax advantages and other protections afforded by charitable planning, including remainder trusts, charitable lead trusts and family foundations. If such charitable entities are properly created, you get the extra benefit of protecting your assets from creditors, tax judgments, divorce settlements and the required spend-down for long-term care.

Determine the Best Options for Your Situation

If you are an individual or family of high net worth, it can be very valuable to establish an advantageous manner to support a 501(c)(3) nonprofit or faith-based organization. There is no one-size-fits-all solution in a comprehensive advanced estate plan. The attorneys at Morris Hall work closely with Morris Hall accountants and Morris Hall financial planners to determine whether including a charitable planning device is an advantageous choice to meet your long-term planning needs. By looking at your complete tax situation, family circumstances and funding options, our experienced estate planning team can help you fulfill your charitable giving desires at every stage of life and income level.

Types of Charitable Trusts

We have extensive experience in all areas of trusts relating to charitable giving, including:

  • Charitable lead trusts: These reduce taxable income by distributing a portion of the trust’s income to charities. After a specified period of time, the remainder of the assets goes to your beneficiaries tax-free.
  • Charitable remainder unitrusts (CRUT): While the trust creator is alive, a CRUT distributes a fixed percentage of the value of its assets to the trust creator or to a noncharitable beneficiary. After death or a preset period of time, the remaining CRUT assets are distributed to charity.
  • Charitable remainder annuity trust (CRAT): Cash, securities, real property or other assets are transferred into a trust that pays the trust holder income at a set percentage for life or a preset number of years. Upon termination of the trust, the remaining assets are distributed to the charity.

Contact Our New Mexico and Arizona Estate Planning Attorneys

Contact us to arrange a consultation with an experienced trusts attorney today. Our offices are located in Phoenix, Tucson, Albuquerque and communities throughout Arizona and New Mexico.