Charitable Remainder Unitrusts

Want to know how you can support the Sisters of the Holy Cross, get a deduction for making a charitable donation, AND keep a steady stream of income for yourself? Talk to your financial advisor about setting up a Charitable Remainder Unitrust.

In very simple terms it works like this:

Say you want to make a significant gift to the sisters and you own appreciated stock that pays you a good dividend. But you depend on that income each year, so you do not want to sell it or donate it outright to charity now. You can transfer this appreciated stock to an irrevocable Charitable Remainder Unitrust that names the Sisters of the Holy Cross, Inc. as the remainder beneficiary. You receive a deduction for a charitable donation immediately. The trust sells the stock with no capital gains penalty. Then each year you receive a percentage of the value of the trust assets. After a set period of years (up to 20) or upon your death, the remainder of the assets in the trust is given to the Sisters of the Holy Cross. Everyone benefits!

There are many rules and variations for this type of planned gift and care must be taken to set it up properly.

Be sure to get help from your financial and/or legal advisors.