Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
CRAT - 5%
|
No additions
Payments fixed - specific amount of income Payable to any charity 10% ending Value |
|
|
CRUT - 5%
|
Additions allowed
Payments variable (assets revalued annually) - fixed % Payable to any charity 10% ending value |
|
|
Pooled Income
|
Additions allowed
Payments variable Payable to specific charity |
|
|
Charitable Gift annuity
|
No additions
Fixed lifetime income Payable to a specific charity Charitable deduction based on gift less annuity |
|
|
CRAT - 5%
|
Tax deduction = present value of the remainder trust
If term used, can't exceed 20 years |
|
|
NIMCRUT
|
Used when beneficiary is still working and does not want money until retires...almost like a retirement plan
|
|
|
Charitable Lead Trust
|
Grantor trust - take upfront income tax deduction for the current value of the payment stream distributed to charities
Future income and gains will be taxable |
|
|
CLAT/CLUT
|
Income to Charity
Income or estate deduction After a period of time paid to a non-charitable beneficiary |
|
|
Charitable gift annuity
|
Not a trust
Charity gets money now Value of property exceeds the value of the annuity, donor makes contribution in excess and allowed a deduction Acquisition of an annuity and a charitable contributions |
