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Charitable Remainder Trusts

You may be concerned about the high cost of capital gains tax with the sale of an appreciated asset. Perhaps you are about to sell property or a business and are looking for a way to save on taxes this year and plan for retirement. A charitable remainder trust might offer the solutions you need!

Flowchart: Donor funds a trust with stock or cash. The donor receives trust payouts and Phoenix Rescue Mission receives the remainder at the end of the trust term.

Benefits of a charitable remainder trust

  • Receive income for life, for a term of up to 20 years beyond your lifetime
  • Avoid capital gains on the sale of your appreciated assets
  • Receive an immediate charitable income tax deduction for the charitable portion of the trust
  • Establish a future legacy gift to support Phoenix Rescue Mission's work

How a charitable remainder trust works

  1. You transfer cash or assets to fund a charitable remainder trust.
  2. In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free.
  3. The trust is invested to pay income to you or any other trust beneficiaries you select based on a life, lives, a term of up to 20 years or potentially a life plus a term of up to 20 years.
  4. You receive an income tax deduction in the year you transfer assets to the trust.
  5. Phoenix Rescue Mission benefits from what remains in the trust after all the trust payments have been made.

Contact us

If you have any questions about a charitable remainder trust, please contact us. We would be happy to work with you and your tax advisor to determine which payout option is best for you or answer any questions you might have.