Charitable Remainder Trust Document With Ira
Description
How to fill out Charitable Remainder Inter Vivos Unitrust Agreement?
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FAQ
Use Form 541-B, Charitable Remainder and Pooled Income Trusts, to report the financial activities of a charitable lead trust, charitable remainder trust, or a pooled income fund.
And yes, for 15 years people have been able to make IRA gifts outright to charities, and now they can make a gift that's partly to charity, partly to themselves. They can transfer money to a charitable gift annuity or a Charitable Remainder Trust (CRT).
Like IRAs, CRTs allow you to defer the taxes you would otherwise owe on your capital gains. But unlike IRAs, CRTs have no contribution limit and allow you to withdraw money when you need it, rather than having to wait until retirement.
This is particularly true if you plan to pass on the funds in your IRA to a beneficiary for their future financial well-being. Perhaps the most beneficial reason to consider converting your IRA into a CRT is to minimize the taxes that a beneficiary will pay on your IRA.