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Two Viable Options For Income And Tax Benefits

A Charitable Remainder Trust provides life income for one or several income beneficiaries, such as the donor and the donor’s spouse, and leaves the remainder interest to the Foundation or designated beneficiary. There are two variations, the Annuity Trust and the Unitrust, each enabling donors to donate an asset and retain life income. Depending upon the donor’s needs, Charitable Remainder Trusts can be used as a personal retirement plan. They can be structured to pay income immediately or to defer the income. Unlike new restrictions on IRAs or amounts that can be contributed to qualified pension plans, there are no such restrictions on gifts that can be contributed to Charitable Remainder Trusts. Most important, all the contributions qualify for a charitable income tax deduction.

A Charitable Lead Trust is a trust which pays income to a charity such as the Jacobson Jewish Community Foundation of the Jewish Federation of South Palm Beach County for a specific period of time. At the termination of the trust, all gift assets are returned to the donor or other person(s) designated in the trust, such as children or grandchildren. The income received by the Jacobson Jewish Community Foundation can be used to establish an endowment fund in the name of the donor. Whereas charitable remainder trusts generate significant income and estate tax deductions, lead trusts are used primarily to reduce estate tax liabilities on gifts to family members.


Cathrine Fischer Schwartz, CFRE, Chief Legacy Officer
561.852.3120 | CathrineS@bocafed.org