Charitable Remainder Trust

A charitable remainder trust can be a great way to reduce taxes. If you are concerned about the high cost of capital gains tax associated with selling an appreciated asset, or if you recently sold property and are looking for a way to save on taxes this year and plan for retirement, a charitable remainder trust might help.

Benefits of a charitable remainder trust

• Receive income for life, for a term up to 20 years or life plus a term up to 20 years
• Avoid capital gains on the sale of your appreciated assets
• Receive an immediate charitable income tax deduction for the charitable portion of the trust
• Make a future legacy gift to the Allentown Symphony

How a charitable remainder trust works

You transfer cash or assets to fund a charitable remainder trust. In the case of a trust funded with appreciated assets, the trust will sell the assets tax-free. The trust is invested to pay income to you or any other trust beneficiaries you select for a term of up to 20 years or a life plus a term of up to 20 years.

You will receive an income tax deduction in the year you transfer assets to the trust. The Allentown Symphony will receive what remains in the trust after all trust payments have been made.

Questions?

Contact Lori Davis at 503-803-3101 or at LDavis@AllentownSymphony.org.