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Charitable Lead Trusts Joyce
and Burton know what hard work is all about. And they have the rewards as a result.
Joyce: "I was one of the lucky ones. It
was a very tough time for me and my family. Public radio provided a kind of retreat
for me. I could listen and forget about my troubles and the world around me. Burton:
"We know how important the work of a charity is to a community. And we know how
difficult it is for them to develop the funding they need. Facilities, up-to-date
equipment, getting staff - it's  all
literally urgent because where else can you find quality broadcasting." Joyce:
"We benefited because others before us had given their time and their dollars
- now we can give back. And what a joy it is to know that while we no longer need
the income, it is going to someone who does. It's awesome - we are helping to
change lives now and yet the assets will be there for our children after we're
gone!" Burton: "That's why Joyce
and I made the decision. The trust will provide income for the station and we
can see the benefits it provides while we are here. But we have the peace of mind
knowing that our estate will be there to help our immediate family after we're
gone." A charitable lead trust is often
described as the opposite of a charitable remainder trust. It is a gift plan that
enables you to transfer assets to your heir or heirs often at a reduced tax basis
or cost and also make a gift to the charity you desire. A charitable lead trust
is established by irrevocably transferring assets into the trust. A
trustee (either you or someone you name) invests the assets of the trust and pays
annually a fixed percentage of the trust's value to the charity or charities named
to benefit by the trust. The income received by the charity (ies) may be used
for general purposes or for the purpose designated when you established the trust. The
trust is established for a fixed number of years. After the term of the trust
has ended, the assets in the trust are distributed according to your wishes. Any
increase in the value of the assets held by the trust would be distributed free
of addidtional estate or gift tax to your beneficiaries. Now
click here to meet Susan
and Fred. Or return to the Planned Giving homepage.
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