Testamentary Charitable Remainder Unitrust

A Testamentary Charitable Remainder Unitrust is often called a “give it twice” trust because it allows you to transfer your IRA or another asset upon your death to fund a trust that first pays income to your family for a certain number of years and then distributes the balance to Kent State.

A testamentary charitable remainder unitrust is a useful option that allows you to retain control of your funds during your lifetime, provide income for heirs for a longer period as opposed to an outright gift of your IRA and can potentially qualify for an estate tax deduction.

If you choose to establish a testamentary charitable remainder unitrust, we will work with you and your attorney to create the trust and name it as the beneficiary of your IRA account. Upon your passing, the IRA is transferred to the trust and payments begin to your beneficiaries for the agreed upon period. At the end of that period, the balance of the trust is then transferred to Kent State.

Please contact us at giftplan@kent.edu or 330-672-1000 to discuss establishing a testamentary charitable remainder unitrust or with any other questions.