Charitable Remainder Trusts (CRT) allow you to provide income for yourself or someone else from assets you designate for charity. You will receive an immediate income tax deduction for a gift to the trust, and you and/or others you designate receive income for life from the trust. Ultimately, all property goes to the designated charity.
If you contribute appreciated, low-yielding property to the trust, you can avoid capital gains taxes and increase your income. The trust’s assets are insulated from creditors and free from federal and state death taxes and probate.
Many individuals use a CRT as a highly flexible supplemental retirement plan.