Charitable Remainder Trusts
A charitable remainder trust is a personalized life income gift that provides you with lifetime income and a charitable income tax deduction. As the creator of the trust, you select the payout rate, and the trustee. If the trust is established with appreciated property, the related capital gains tax is avoided. When a Charitable Remainder Trust is created, the assets placed in the trust are removed from your estate, and are not subject to estate taxes. After your death, the remainder of the trust is then distributed to the Fairfax Library Foundation. We would be happy to provide you with sample language, tax calculations, and informational literature. Since our information and calculations are only intended to serve as a general guide, we would be very happy to meet with you and your advisor by phone, or in person.