Law Office of John S. Palmer Attorney at Law

(425) 455-5513

Charitable Trusts

If you are charitably inclined, we can help you structure your charitable gifting for maximum tax benefits.

Although an outright charitable bequest is always an option, individuals with potentially taxable estates may want to consider establishing a Charitable Trust.

A Charitable Remainder Trust will pay annual income to you or a designated beneficiary for life or for a specified period of years. Assets remaining in the Trust at the conclusion of that period will be distributed to the designated charity or charities.

A Charitable Remainder Trust has both income and gift/estate tax benefits. A charitable income tax deduction is available for assets gifted to the Trust (whereas a bequest to charity after death has no income tax benefits). A charitable gift tax deduction is also available for the present value of the charity’s remainder interest.

A Charitable Lead Trust is similar to a Charitable Remainder Trust, but the roles are reversed: A Charitable Lead Trust provides a stream of income to a designated charity, for a term of years or for the life of the donor or close family member. At the conclusion of the term, the remaining assets are returned to the donor or are distributed to a non-charitable remainder beneficiary, such as the donor’s heirs.

As with a Charitable Remainder Trust, there are both income and gift/estate tax benefits to establishing a Charitable Lead Trust.

If you have any questions or would like to schedule an appointment, please call us at (425) 455-5513, toll free at (877) 455-5513, or info@palmerlegal.com.

Local: (425) 455-5513
Toll Free: (877) 455-5513
Fax: (425) 455-5546
Law Office of John S. Palmer11911 NE 1st St, Ste. B204,Bellevue, WA 98005-3056
47.6105330-122.1807060