The charitable remainder unitrust provides annual payments of a specified percentage (at least 5% of the value of the trust as it is valued each year) to at least one designated beneficiary. Since the value of trust assets will likely vary from year to year, the payments will also vary. At the death of the last income beneficiary, the trust principal is distributed to the UW Foundation.
In addition to the income you will receive from the trust, you will also be entitled to a charitable income-tax deduction for the value of our remainder interest in the trust assets.
How it Works
- Create trust agreement outlining terms of the trust
- Transfer cash or other property to trustee
- Trustee invests and manages trust assets
- Trustee makes payments to income beneficiaries
- Remainder to the UW Foundation for purposes you specify
- Income to one or more beneficiaries that will vary annually with the value 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 UW Foundation