Solutions for Large Donations
The Advantages of a Charitable Remainder Trust
If you have built a sizeable estate and also are looking for ways to receive reliable payments, consider a charitable remainder trust.
These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:
The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.
The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.
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View My GuideThe Driving Force of Education
Gerry Montgomery's gift to Iowa State supports a cause he believes in and also provides an income stream for his family.
"The scholarships I received at Iowa State made me realize that this kind of support isn't only a financial incentive, but it's also an encouragement," he said.
Scholarship support not only allowed Montgomery to transfer to Iowa State in 1952, but it also gave him the resources he needed in order to graduate on time - something he wants to make sure to provide for today's students.
Montgomery and his wife, Barbara, have supported many areas at the university, including a handful of scholarship funds, but they wanted to become even more personalized with their giving. They did their research and established their own scholarship fund, supported largely by a charitable remainder trust.
"I wanted to do what I could to see more women in engineering," said Montgomery. "Plus, this gift is structured in such a way that my wife and children will still be supported after I'm gone."
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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
For more information, please contact any member of our gift planning staff: Rob Kinsey, Kelly Allen, Joe Nolte, Rhonda Fitchett, Alyssa Ehrich, Gregg Hinders or Sandy Clarke.
- 800.621.8515
- giftplanning@foundation.iastate.edu
