Charitable Remainder Trust

Solutions for Large Donations

If you have built a sizable estate and also are looking for ways to receive reliable payments, consider a charitable remainder trust.

These types of gifts do offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:

The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.

The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

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An Example of How It Works

Woman hugging dogSusan, 75, wants to make a gift to UI&U but would also like more income in the future. Susan creates a charitable remainder unitrust with annual lifetime payments to her equal to 6 percent of the fair market value of the trust assets as revalued annually. She funds the trust with assets valued at $500,000.

Susan receives $30,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $275,725* in the year she creates and funds the trust. This deduction saves Susan $90,989 in her 33 percent tax bracket.

*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions vary based on income earned.

Next Steps

Take these steps to plan your gift

  1. Contact Carolyn B. Krause at 513-487-1165 or development@myunion.edu to talk about supporting UI&U by setting up a charitable remainder trust.
  2. Seek the advice of your financial or legal advisor.
  3. If you include UI&U in your plans, please use our legal name and federal tax ID.

Legal Name: Union Institute & University
Address: 440 E McMillan Street Cincinnati, OH 45206
Federal Tax ID Number: 31-0747997

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