Charitable Trusts (for Family)
A planned gift can not only benefit people in need through CCM; but also you and your loved ones. If you are looking for a way to pass on some of your assets to your family while reducing or eliminating gift or estate taxes, a charitable trust is an excellent option.
Benefits of a charitable trust
- Receive a gift or estate tax charitable deduction
- Pass inheritance on to family at a reduced or zero cost
- Establish a vehicle from which you can make annual gifts to charity
There are two main types of charitable trusts – Charitable Lead Trusts (CLT) and Charitable Remainder Trusts (CRT).
1. Charitable Lead Trust
A charitable lead trust is established either during life or at the time of death. It pays its income, or “lead interest,” to Crisis Control Ministry, typically for a stated number of years. After the trust terminates, the assets inside the trust are then distributed – either back to you or to your heirs.
2. Charitable Remainder Trust
A charitable remainder trust allows you to provide income to yourself or others for life or a term of years. At the end of the trust term or at your death, the trust will terminate and the remainder assets will be distributed to Crisis Control Ministry.
If you have any questions, please contact us. We would be happy to assist you and answer any questions that you have. Please let us know if you have already included Crisis Control Ministry in your plans. We would like to thank you and include you as part of the Ron E. Rice, Sr. Legacy Society.