Planned Giving Strategies FAQs - New York Community Trust

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	Planned Giving Strategies FAQs

Planned Giving Strategies FAQS

Below are questions often asked by clients about planned giving strategies, and the answers. If you have further questions, or would like to discuss any issue, please contact our general counsel, Jane L. Wilton, at 212-686-2563.

Charitable Remainder Trust (CRT) Q-tip Trust Charitable Lead Trust Life Insurance

Can the payments from a CRT be made to someone other than the donor?

How much money can be expected from a CRT?

How are CRTs taxed?

What are the advantages of creating a CRT—either in the form of an annuity trust or a unitrust?

How can increased income be realized from this arrangement?

What if the assets in the charitable remainder unitrust may not generate enough income to cover the payment to the income beneficiary?

If a CRT is created for the benefit of a fund in The New York Community Trust, can an immediate federal income tax deduction be claimed for the value of charity’s interest in the property?

Can a CRT be created by will?

Is there a more flexible way in which donors may leave their estate in trust for spouses and, on their death, to a fund in The New York Community Trust?

Who would be the trustee of one of these trusts?

What is a charitable lead trust?

What is the advantage of a charitable lead trust?

Can life insurance be used to create a fund in The New York Community Trust?