• Charitable Planning & Private FoundationsCharitable Remainder Annuity Trusts

    An individual may create a Charitable Remainder Annuity Trust for the ultimate benefit of one or more charities, while reserving an annuity for life or a term of years, payable from the property donated to the Trust. At the end of the term of years or at the death of the annuitant, the remainder passes to the charity named in the Trust. 

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    Alternatively, such a Trust can be established at one’s death, with an annuity from the property payable to a spouse or child for life or for a term of years, with the property passing to the charity upon the death of the annuitant or the end of the term of years.

    This Trust has the advantage of removing the property held therein from the Donor’s Estate.

    Note: Recent IRS Rulings suggest that it may be necessary for a surviving spouse to “waive” any interest in a Charitable Remainder Trust created for the benefit of another to preserve the anticipated deduction for tax purposes.

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    If you or a loved one needs help with a situation involving one of these areas, please contact Thomas N. Silverman, P.A. at 561.775.7500 (24 hours) or info@FloridaProbateCounsel.com.

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