Testamentary charitable remainder trust
In this arrangement, a donor names a charitable remainder trust (a CRAT or a CRUT) as the beneficiary of cash or capital assets in a will or living trust and includes provisions that will establish the trust. After the donor dies, his or her estate gets a tax deduction and the trust pays the surviving spouse, or other people the donor designates, an income for their lifetime. After the death of the survivor, the remainder of the trust is passed on to the Foundation. A testamentary charitable remainder trust is the most appropriate for donors age 40 and older who can contribute at least $50,000 for a CRAT, and at least $100,000 for a CRUT.
