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.

For Example

Woman happySusan, 60, is committed to supporting charitable organizations like the Marine Corps Scholarship Foundation after her retirement, but she would also like more income in the future. She created a charitable remainder unitrust with annual lifetime payments to her equal to 6 percent of the fair market value of the trust assets as revalued annually. She funds the trust with assets valued at $250,000.

Susan receives $30,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $276,880* in the year she creates and funds the trust. This deduction saves Susan $88,232 in her 32 percent tax bracket.

*Based on annual payments and a 3.2 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

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Next Steps

  1. Contact Lindsay Cameron at 571.386.2643 or lindsay.cameron@mcsf.org to talk about supporting the Scholarship Foundation by setting up a charitable remainder trust.
  2. Seek the advice of your financial or legal adviser.
  3. If you include the Scholarship Foundation in your plans, please use our legal name and federal tax ID.

Legal Name: Marine Corps Scholarship Foundation Inc.
Address: 909 N. Washington Street, Suite 400, Alexandria, VA 22314
Federal Tax ID Number: 22-1905062

Here to Help

Lindsay Cameron
Director, Gift Planning

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See which type of charitable trust best fits your estate plan with the FREE guide Choose From 2 Win-Win Ways to Donate.

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Personal Estate Planning Kit

Not Sure How to Begin Planning?

Download our FREE Personal Estate Planning Kit