Monday, October 26, 2020

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Ways to Support Charitable Remainder Trust

Charitable Remainder Trust

If you wish to support WPBS-TV in a larger way but still wish to retain an interest in your property for your benefit or the benefit of your family, a charitable remainder trust (“CRT”) may be a flexible option for you.

Here's how it commonly works:

  • You make a gift of cash and/or appreciated stock; those funds are then placed in an irrevocable trust.
  • The trust will then pay you and/or a person you choose regular payments for life or a period of years.
  • You can select a payout rate that meets your needs and passes certain tax regulations.
  • You may choose to receive fixed payments (annuity trust) or one that changes with market conditions (unitrust).
  • Once the trust ends, the remaining assets in the trust will be designated to WPBS-TV and perhaps other charities you decide to name.

Benefits
You will:

  • be allowed an immediate charitable deduction for a portion of the gift if you itemize deductions on federal income tax return
  • receive annual payments for life, a portion of the payments will be tax free for a period of years
  • enjoy possible reduced probate costs and federal estate tax
  • have the satisfaction of knowing the impact of your gift will be multiplied when it's combined with the gifts of others who equally believe in the power of public media

Learning More
To learn more about Charitable Remainder Trusts, please contact Peggy Brouty-Benton at 315-782-3142 ext. 301 or pbrouty@wpbstv.org. We would be honored to work with you and your advisors as you consider your plans.

Please consult with your professional advisor for advice on the full impact of your charitable gifts on your financial and/or legal circumstances.