Charitable Remainder Unitrust or Charitable Remainder Annuity Trust

A charitable remainder unitrust or annuity trust are effective ways to make a gift to Kent State while saving money on taxes and planning for retirement. It is an ideal option for those planning on selling an appreciated asset or property. A charitable remainder unitrust or a charitable remainder annuity trust require a minimum investment of $50,000.

Establishing a charitable remainder unitrust or annuity trust provides you with an income for a set number of years. A charitable remainder unitrust can be established to make payments for life, for a term of up to 20 years or for life plus a term of up to 20 years. A charitable remainder annuity trust can be established to make payments to you or any other trust beneficiaries you select based on a life, lives or a term up to 20 years.

To form the trust, you transfer the cash or assets and the trust is invested to pay you or any other beneficiaries. You will receive an immediate charitable income tax deduction for the charitable portion of the trust during the year the trust is formed and Kent State benefits from what remains of the trust once all payments have been made.

For more information about establishing a Charitable Remainder Unitrust or a Charitable Remainder Annuity Trust, please contact us at giftplan@kent.edu or 330-672-1000.