For some individuals and families, the creation of a nonprofit organization and a Charitable Remainder Trust are robust estate planning tools. The Law Office of Sylvie Richards, PLLC encourages clients to explore these options in the following circumstances:

• If an individual has no beneficiaries.

• If continuous income needs to be provided for a family member.

  • ​A Charitable Remainder Trust dispenses income to one or more noncharitable beneficiaries for a specified period and then donates the remainder to one or more charitable beneficiaries.

• If someone has not planned for retirement and needs an income stream.

  • ​Charitable Remainder Trusts can also offer benefits for retirement planning by providing an annuity income to the grantor.

• If someone requires a lifetime income due to illness or disability.

  • ​The term of a Charitable Remainder Trust can be for up to 20 years or for the lifetime of one or more noncharitable beneficiaries.

• If individuals or families have hard-to-value assets.

  • ​Assets that can be donated to a Charitable Remainder Trust include cash, stocks, art, real estate, private business interests, and private company stock.

• If individuals or families anticipate estate taxes.

  • ​A Charitable Remainder Trust is a tax-exempt irrevocable trust (i.e., they cannot be modified or terminated without the charitable beneficiaries’ permission) designed to reduce the taxable income of individuals.

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