CHARITABLE TRUSTS
There are various ways to set up a trust. Each one will serve a different purpose.
Charitable Remainder Trust
A charitable remainder trust is a highly recommended estate planning tool that allows you to donate your assets to Chabad in Medford while providing an income stream to you and your family. A charitable remainder trust has significant tax advantages for your children and beneficiaries during your lifetime.
Here’s how a Charitable Remainder Trust can work for you:
- Appreciated real estate or securities are often an excellent asset to place in a charitable remainder trust.
- You establish a remainder trust that provides income payments to you or your family.
- A charitable remainder trust will, in most cases, reduce your estate taxes.
- After your passing, the assets are given to Chabad in Medford
- This is a significant and important way to leave a meaningful Jewish legacy.
Charitable Lead Trust
A charitable lead trust can be an effective estate planning tool to transfer the assets to your heirs with significant tax advantages, while making a meaningful gift to the Chabad in Medford.
How Charitable Trusts can work for you:
- You can establish a lead trust that will make income payments to Chabad for a predetermined number of years.
- After the trust term ends, the assets are distributed to you or your family.
- This is an outstanding way to give charity today, eventually leaving the asset to your heirs.
- Appreciated real estate is often an excellent asset to place in a charitable trust.
Retained Life Estate
A retained life estate is a strategy that allows you to donate a home to Chabad in Medford while retaining the right to live in it for the rest of your life.
- You deed your home to Chabad, but retain the right to live there for the rest of your life.
- You continue to live on your property for as long as you want and are responsible for the expenses: maintenance fees, insurance, property taxes, repairs, etc.
- When you pass, the property is transferred to Chabad.
- You are able to receive a substantial tax deduction.
- You benefit by knowing your property or vacation home will ensure a Jewish legacy.
If you are considering a charitable lead trust or a retained life estate, or for any information on planned giving, please contact us.