If you don't need your payments from your charitable remainder trust to begin immediately, consider one of the three additional types of unitrusts and their benefits.
Case Study: Supplement Your Retirement Income (The following is an illustration of how this type of donation works.) Scenario: John is concerned about building sufficient assets for his retirement. Charitable Solution: One solution is for John to make an annual contribution to a NIMCRUT. He can make contributions whenever he likes. The contributions are not subject to the limits on contributions to qualified retirement plans and provide a charitable income tax deduction in years when his income is high. Main Benefits: The trust will begin to make distributions immediately, but those distributions will be small as long as the trustee invests the assets for long-term growth. Once John retires, the trustee can change the trust to generate more income, adding a supplemental income stream to his qualified retirement plan distributions. Because John likely received less than the 5 percent distribution during his working years, he may receive more than 5 percent (up to the amount of prior years' undistributed amounts) in years in which the trust generates more. After his lifetime, the balance is paid to the charities of his choice. To learn more about how a charitable trust could fit into your long-term financial plans, please contact Tim Enstice at 757-962-8213 or email@example.com.
Almost all of us grew up eating meat, wearing leather, and going to circuses and zoos. We never considered the impact of these actions on the animals involved. For whatever reason, you are now asking the question: Why should animals have rights? Read more.