Establish A Trust
If you have cash or an asset (stocks, bonds or real estate) that you have considered leaving to the Sens Foundation or our charity of choice Roger’s House in your Will but would like the tax benefit now, then a charitable remainder trust may be for you.
A charitable remainder trust pays you and/or your beneficiary an income for life from the principle of your invested asset.
A charitable remainder trust generates a donation receipt when you make the gift. You will receive a receipt for the present value of the remainder interest of the trust.
A charitable remainder trust can be either inter vivos (established during your lifetime to provide an income stream to you and/or your named beneficiaries) or testamentary (established through your Will to provide an income stream to a spouse or another beneficiary/ies after your death).
How does a Charitable Remainder Trust work
You transfer the income-producing property to a trustee of your choice, who holds and manages it. The trustee will then pay you and/or the named beneficiaries an annual income. At the same time the Foundation will issue a donation receipt for the present value of the remainder interest. When the trust terminates (either upon your death or the death of the named beneficiaries, or after a term of years), the remainder of the trust will be distributed to the the Sens Foundation or our charity of choice Roger’s House.
Benefits to Donor
- You or your beneficiaries receive a lifetime income from the assets you donate to the Sens Foundation or our charity of choice Roger’s House.
- You receive immediate tax benefits to off-set your current income.
- Gifts of appreciated property can be structured to avoid capital gains tax.
- This type of trust is not included in the value of your estate, thus avoiding probate fees.
- Unlike a bequest, this type of gift cannot be challenged in court.
- You help us help kids.
*NOTE: this type of gift is irrevocable (you cannot change the terms of the gift or trust).
Ensure your family that their inheritance has not been disturbed. You may wish to replace the value of the gift (asset) you have transferred to a charitable remainder trust with a life insurance policy in the same amount and name your family as beneficiaries. This is called wealth replacement because your family will receive an amount equal to the value of the gift (asset) you transferred to the trust, but in tax-free dollars.
The proper legal name for making a gift to us is Sens Foundation.
The proper legal name for making a gift to our charity of choice is Roger’s House.
For more information on the many ways to make a gift to the Sens Foundation, please contact us.