The Charitable Remainder Annuity Trust
How Does It Work
- Create trust agreement outlining terms of the trust
- Transfer cash or other marketable property to trustee
- Trustee invests and manages trust assets
- Trustee makes payments to income beneficiaries
- Remainder to the Georgia Tech Foundation for purposes you specify
Benefits
- Income to one or more beneficiaries that remains fixed for the life of the trust
- Federal income-tax deduction for the charitable remainder value of your gift
- No capital-gain tax when trust property is sold
- Trust remainder will provide generous support for the Georgia Tech Foundation
Please note: The federal estate tax is currently back in effect through the end of 2012. The top tax rate is now 35%, and the exclusion amount is $5,120,000 per person and $10,240,000 per married couple. Any exclusion amount not used by a spouse who dies after December 31, 2010, is portable and generally may be used by the surviving spouse. It is very important that you seek the advice of your estate-planning attorney to determine what changes, if any, need to be made to your existing estate plans.