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Charitable Remainder Trusts

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If you need current income, or future income for your retirement years, a charitable remainder trust can provide income to you for life. It can also be used to provide income for others.

A charitable remainder trust is set up by transferring cash or assets to a trust (at a bank or a trust management company.) The trust pays you, or a beneficiary that you select, an income for life or for a term of years. Upon the death of the income beneficiary, or the expiration of the term of years, the principal passes to WGBY for the purpose you designate.

There are two basic types of charitable remainder trusts, Unitrusts and Annuity Trusts:

  • A unitrust pays you a fixed percentage of the trust’s value, which is revalued every year. If the trust’s value goes up, its payout increases. Likewise, if the trust’s value decreases, the distribution decreases.
  • An annuity trust distributes your income as a fixed dollar amount – a percentage of the trust’s initial value regardless of the trust’s value.

Summit Society Options

Have questions about which planned giving options are best for you? Please call Jodi Fallon Fern, Major Gifts Officer, at (413) 781-2801, x246, or email jfallonfern@wgby.org.