Goal: Secure payments for life while reducing market risks
Benefit: Potential increased income and tax benefits
Diagram
Susan and Fred know what hard work is all about. And now they have some time to relax a bit.
Susan: "As the oldest daughter, my parents needed me to be there for them. It was a privilege but it also became exhausting, both physically and emotionally. Hospice was wonderful. They were loving and caring and their help was a godsend!"
Fred: "I don't know how Susan did what she did but I could see the toll it was taking on here. Thank God for Hospice."
"That's why Susan and I made the decision. Not only will the trust provide income to us throughout our lifetimes, but we have peace of mind knowing that the remainder will benefit others who have to deal with the same circumstances and the community as a whole."
There are two different types of charitable remainder trusts.
A charitable remainder unitrust (see example) is a popular way to achieve tax benefits as well as a fixed annual percentage on the value of the assets in the trust. The assets are revalued annually and, if the trust value changes, the payment to the beneficiary(ies) changes.
A charitable remainder annuity trust is set up to pay a fixed rate of return based on the initial valuation at the time the property is placed in the trust. The trust assets are never revalued.
Additional information on charitable remainder trusts is available. Charitable remainder trusts provide a good degree of flexibility that is valuable in charitable gift planning, especially when dealing with appreciated assets. For example, a variation on remainder trusts can be an effective way to make gifts of real estate.
Susan and Fred are happy that they have made a difference; a difference that will have a profound impact on the lives of others.
Return to the Legacy Giving home page or to the Quick Guide to Legacy Gifts.
If you are considering a tax-wise planned gift or changes to your will or trust to include a bequest, we would be delighted to answer any questions or help in any way. Call (352) 873-7400 ext 1771 for a confidential discussion to see how Hospice can fit into your estate planning. You may also email the Planned Giving Director, Beth McCall, CFRE.
Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice, either in whole or in part. Donor stories and photographs are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Legacy Giving section has been developed for Hospice of Marion County by Future Focus.
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A copy of the official registration and financial information may be obtained from the Division of Consumer Services by calling toll-free 1-800-435-7352 within the state or at www.FloridaConsumerHelp.com Registration does not imply endorsement, approval or recommendation by the State.
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