Riverside California Charitable Remainder Inter Vivos Annuity Trust

Name: Riverside California Charitable Remainder Inter Vivos Annuity Trust
Brand: US Legal Forms
Rating: 4.69 (323 reviews)

Category:

Trusts - Living Trusts

State:

Multi-State

County:

Riverside

Control #:

US-00615BG

Format:

Instant download

Description

The following form is a sample of a charitable remainder inter vivos annuity trust.

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FAQ

Charitable remainder annuity trusts (CRATs) distribute a fixed annuity amount each year, and additional contributions are not allowed.

A CRT lets you convert a highly appreciated asset like stock or real estate into lifetime income. It reduces your income taxes now and estate taxes when you die. You pay no capital gains tax when the asset is sold. It also lets you help one or more charities that have special meaning to you.

The CLAT is its own taxpayer but can claim a charitable deduction each year for payments made to the Lead Beneficiary that year. As long as the CLAT income in a given year does not exceed the payments made to Lead Beneficiary in that year, the CLAT will not owe income taxes.

Charitable remainder annuity trusts (CRATs) and charitable remainder unitrusts (CRUTs) have a number of characteristics in common. The trust must be irrevocable; there can be no possibility that the remainder will revert to noncharitable beneficiaries.

More In File However, a charitable trust is not treated as a charitable organization for purposes of exemption from tax. Accordingly, the trust is subject to the excise tax on its investment income under the rules that apply to taxable foundations rather than those that apply to tax-exempt foundations.

Any income that you receive from your charitable trust could reduce the total contribution that you end up leaving to your charity. You may risk leaving nothing to your charity if you plan to receive high payments from the trust while you're alive.

A charitable lead trust (CLT) is like the reverse of a charitable remainder trust. This type of trust disperses income to a named charity, while the noncharitable beneficiaries receive the remainder of the donated assets upon your death or at the end of a specific term, similar to a CRT.

With a CRT, the donor must pay tax on the income stream, which is categorized into four tiers: (1) Ordinary income and qualified dividends, (2) capital gains (short-term, personal property, depreciation, long-term gain), (3) other tax-exempt income; and (4) return of principal.

Disadvantages of CRT :Big back and take up space on a desk.Not suitable for very brightly environment because less bright than LCD.They are large, heavy and bulky.Consume a lot of electricity and also produce a lot of heat.Geometrical error at edges.Flickering at 50-80 Hz.Harmful DC and AC electric and magnetic fields.

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Any available charitable and marital estate tax deductions. That the charity was the sole remainder beneficiary of the trust, the gift of the remainder interest in the trust to charity would be complete.

Riverside California Charitable Remainder Inter Vivos Annuity Trust

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Can you add money to a charitable remainder trust?

What is the benefit of a charitable remainder trust?

How are Clats taxed?

What feature do charitable remainder annuity trusts and charitable remainder Unitrusts have in common?

Does a charitable trust pay taxes?

What are the pitfalls of a charitable remainder trust?

What is the difference between a charitable trust and a charitable remainder trust?

Who pays income tax on charitable remainder trust?

What are the cons of a CRT?

What are the disadvantages of a charitable remainder trust?

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