A Charitable Remainder Trust enables you to make a substantial gift to Queen’s, while enjoying an immediate tax benefit as well as income for life, or a specific term.
Satisfaction of making a meaningful gift to Queen’s that is important to you – e.g., student aid, a particular program, research initiative, or area of greatest need.
At the time the gift is made, you receive a tax receipt for the net present value of the remainder interest.
If the value of your gift exceeds 75 per cent of your net income in the year the gift is made, you may carry-forward the excess tax credit for up to five years.
Depending on the structure of the trust, income payments may be made annually, bi-annually or monthly.
Fewer investment and management concerns.
Depending on the size of the gift, you can establish an endowed fund and name it in honour of someone close to you or secure your personal legacy.
A charitable remainder trust can be established to benefit Queen’s during your life (inter vivos) or through your Will (testamentary) by irrevocably transferring assets, such as a sum of money, securities, personal or real property, valued at a recommended minimum of $250,000, into a trust. The trust document names an individual (you or someone close to you) as the interest income beneficiary and names Queen’s as the remainder beneficiary. Queen’s should be consulted in advance of a charitable remainder trust being establish to discuss terms and conditions required for acceptance and receipting.
contact us with your questions or for further information.
We strongly encourage you to consult with your lawyer, accountant, or other financial advisor before finalizing your planned gift.
Thank for your interest in our Gift Planning program.