CHARITABLE REMAINDER TRUSTS
Should I Start a CRT?
As our country prepares to celebrate what we are grateful for this year, it’s important to remember those who are less fortunate than ourselves. We thought it would be fitting in this season of giving to cover an estate-planning option for those looking to donate to charitable causes while also generating income. So this month, we’re delving into charitable remainder trusts (CRTs).
As with most estate planning and financial vehicles, certain factors determine whether CRTs are appreciable assets and want to set up an income stream that allows you to give to philanthropies best for you. If you have highly
What’s a CRT?
At its core, a CRT is what’s known as a “split-interest” trust, meaning a portion of the trust’s assets will go to a third party — in this case, one or more charities. You or an individual you name can receive an income stream from this trust for a period of up to 20 years or until this beneficiary passes away. Then the remainder of the assets go to the charities named in the trust.
What Are Its Benefits?
you care about, CRTs can be a very attractive option. However, there are plenty of great financial planning tools out there
There are many personal and philanthropic benefits to be had from a CRT. These trusts offer a lot of flexibility, allowing valuable assets such as publicly traded securities and real estate within the trust to be sold tax-free. Income from this trust will be protected from capital gains tax, both for your beneficiaries and your chosen charities. Furthermore, CRTs allow you the opportunity for an immediate income-tax deduction based on the estimated amount of your assets that will go to charity.
that can help you secure your future and give to those in need. If you want to include philanthropy in your plan, give us a call. We can help you find an approach that fits your assets and your desire to do good.
A SIMPLE BRINE FOR SUCCULENT TURKEY
No matter how you cook your bird for Thanksgiving, it will taste better if you brine it beforehand. Break out your biggest cooler and some ice to ensure that your guests rave about your turkey.
3/4 cup plus 2 tablespoons kosher salt
2 bay leaves
1 tablespoon black peppercorns
• • •
3/4 cup sugar
1 carrot, peeled and diced
1/4 teaspoon crushed red pepper flakes 1/4 teaspoon fennel seeds (optional)
1 large onion, peeled and diced 1/4 cup celery, diced 2 large sprigs thyme
1. In a large stock pot, bring salt, sugar, and 4 cups water to a boil. Stir until all ingredients are dissolved. 2. Turn off heat and add remaining ingredients. Place brine in the fridge, uncovered, until cold. 3. Add 6 quarts cold water to brine. Add turkey and submerge completely. Brine chilled for up to 72 hours.
Inspired by Bon Appétit magazine
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