by mariettacp | Jul 6, 2011 | Money Tips, Tax Planning, Tax Tips
A taxpayer can establish a CRAT either during the taxpayer's life, or through a provision in the taxpayer's will. If the taxpayer establishes the trust during the taxpayer's life, the taxpayer receives a charitable deduction for income tax purposes, or...
by mariettacp | Jul 4, 2011 | Money Tips, Tax Preparation, Tax Tips
A specified percentage of the initial value of the trust assets, or a fixed sum, must be payable at least annually to a non-charitable beneficiary or beneficiaries, who are living at the time the trust comes into being. The payments should be made for a specified...
by mariettacp | Jul 1, 2011 | Money Tips, Tax Tips
Looking for an opportunity to save income, gift or estate taxes through a charitable contribution, while retaining, for a time, an income interest? These considerable tax savings are available through the use of a charitable remainder annuity trust (CRAT). Over the...
