Charitable Remainder Trusts
Psalm 1:3, 5 “They are like trees, planted by streams of water,
which yield their fruit in its season, and their leaves do not wither.
In all that they do, they prosper…For the Lord watches over the way of the righteous.”
Charitable Remainder Trusts are a planned gift through which a donor transfers cash, securities or real estate to a trustee who holds and manages the assets during the donor’s lifetime. Income from the assets is paid to you for life or the term of the trust, and then the remainder is transferred to the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI) upon the termination of the trust.
You establish a living trust by contributing cash or other property. Throughout your lifetime, you receive income from the trust, but upon your death, the “remainder” will pass directly to the charity you name as the beneficiary. This approach provides immediate tax relief to you, instead of your future estate. The trust can be set up so that the property passes to the charity only when both spouses and other income beneficiary pass away.
To set up a Charitable Remainder Trust, you will need a lawyer experienced in estates and trusts.
If you would like more information about naming the Bishop Budka Eparchial Stewardship Society Inc. (BBESSI) as the beneficiary of a Charitable Remainder Trust, please contact the BBESSI office at 306-653-0138 ext. 223 or by e-mail at firstname.lastname@example.org.
This information is general in nature and does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning and/or financial advice before deciding on your course of action.