For more information, or to let us know that you are already a member, contact:
KLRU-TV, Austin PBS
Austin, TX 78713
(512) 471-0477 // email@example.com
Charitable Remainder Trusts
A way to provide income for you or a loved one and a future gift for KLRU is through a Charitable Remainder Trust. There are several types available. Contact your financial advisor to discuss creating a Trust for KLRU.
How CRTs Work
You transfer assets (cash, stocks, bonds or real estate in most cases) to a trust. The trustee may sell the assets and reinvest the proceeds in a portfolio of stocks and bonds. You receive an income for life, after which the trustee distributes the remaining assets to KLRU and any other charities you have designated.
Types of CRTs
- Charitable Remainder Annuity Trust (CRAT)
The CRAT pays the income beneficiary a specific dollar amount that does not change during the time the CRAT is in existence.
- Charitable Remainder Unitrust (CRUT)
The CRUT pays the income beneficiary a variable income based on a percentage of the trust assets as valued each year. That percentage must be at least 5% and in most cases would be in the 5%-7% range.
When you create a CRT, you are making an irrevocable commitment to a qualified nonprofit organization of a future gift. The IRS allows you to deduct a portion of the amount transferred to the CRT as a charitable gift in the year the CRT is funded.
Another tax benefit is that when you fund a CRT with appreciated stocks, bonds, or real estate owned for more than one year, your lifetime income and your income tax deduction are based on the current fair market value of the assets. They are not reduced by the capital gains tax that would be due on the sale of these assets.
Please note that KLRU cannot provide and is not engaged in rendering legal or tax advisory services or advice. For legal and/or tax advice or assistance in specific cases, the services of an attorney or other professional advisor should be obtained before making such a gift and to assist you in preparing your estate documents. KLRU cannot act as executor nor prepare your bequest documents. The purpose of KLRU’s web page on Planned Giving is to provide general information only.