Charitable
Lead Trusts
Phil and Alicia
had a successful business developing
both residential and commercial real
estate. One of their first charitable
gifts had been a gift
of appreciated stock. They realized
that their assets provided more income
than they need for their current family
living expenses but that they wanted
to maintain their assets to be sure
their grandchildren would have the resources
for their college educations.
Phil:
"It really has been a wonderful
ride. When we first started developing
residential housing, we had no idea
where it would all lead. We were fortunate
to make some choices that really set
up the company for success. It's grown
beyond our wildest dreams."
Alicia:
"We have been able to provide a wonderful
home for our children, but they are
off on their own now with their own
families. While the company has grown,
our immediate needs have shrunk."
Phil:
"Not too long ago, we sat down with
our kids and our advisors and talked
about what was important to us and what
we really wanted. Our kids are all doing
fine on their own. We certainly don't
need more. Our attorney told us about
something called a charitable lead trust
funded with some of our excess assets."
Alicia:
"It sounded great to us - some tax
benefits, our estate remains intact
for our grandkids' education and, not
only are we making a difference in other
peoples' lives, we're able to do it
while we're here and can be part of
it. It really feels good to see firsthand
what the income from trust can do!"
Phil and Alicia
wanted to contribute $1 million to support
continuing public radio. They placed a sufficient amount of income producing commercial property in their trust to make annual payments
of $100,000 over ten years. This will
provide their station with $1 million
in total and after ten years, the assets
will pass to the donor's heirs.
The Charitable
Lead Trust (CLT) is a powerful way
to make a future transfer of assets
to your heirs at a significantly reduced
gift and estate tax cost, while also
providing WBAA Public Radio with income.
During a specified number of years,
the lives of one or more individuals,
or a combination of the two, a contribution
is paid to WBAA Public Radio. A lead
trust may be structured to provide a
fixed dollar contibution annually (CLAT)
or a fixed percentage contribution (CLUT).
At the end of the trust term, the assets
pass to the beneficiaries the donor's
name. The donors choose the trustee.
As we said earlier,
there are as many ways to support WBAA
Public Radio as there are needs for
your support. Please contact
us should you have questions or
if you would like to discuss your personal
circumstances to see how you can enrich
your heart as many others already have.
The following
page has some further thoughts about
joining the family of support for WBAA
Public Radio. Or return to the Planned
Giving homepage.
