Charitable Remainder Trusts
A Charitable Remainder Trust allows you to set aside some of your appreciated assets now for the future benefit of the University of Nevada, Reno, while reserving a lifetime income for yourself and a loved one. You may choose your favorite financial institution as trustee or you may ask the university for assistance in that regard. Together with the university and the trustee, you determine what amount of annual income will be paid out of the trust and whether that income is to be a fixed amount or a percentage of the value of the trust.
If your trust is funded with appreciated assets, you may avoid capital gains taxes on the sale of those assets. In addition, you may be entitled to a significant deduction from current income taxes for the charitable value of the trust.
By creating a Charitable Remainder Trust, you enjoy professional management, reduced future estate taxes, and the knowledge that you have made a significant future gift to the University of Nevada, Reno.
The suggested minimum amount for a Charitable Remainder Trust is $100,000.
A Charitable Remainder Trust (CRT), managed by Nevada or by a trustee of your choice such as a bank trust department, provides a way of giving to Nevada while retaining an income for life. Gift assets are irrevocably transferred to the trust and you or another beneficiary retain an income from them. The income can be either variable (in the case of a "unitrust") or fixed (as in an "annuity trust"), a decision you make at the time the trust is established. A 5% CRT funded with a gift of $100,000 from a person, age 72 and a cost basis of $50,000, would yield an income of $5,000 a year (fixed for the annuity trust; variable with the annual valuation of the trust assets for the unitrust) and a charitable tax deduction of $54,700 (for the annuity trust) or $56,982 (for the unitrust). When the trust ends, the principal passes to Nevada to fund a purpose selected by the donor.
Our Planned Giving office will be happy to supply additional information:
Contact:
Robert M. Eggleston or Lisa Riley
University of Nevada, Reno
Planned Giving
1664 N. Virginia St. / Mail Stop 107
Reno, NV 89557
Phone:
(775) 784-6622
