3 Ways Charitable Remainder Trusts Provide Tax Advantages
A charitable remainder trust can serve many purposes in one’s financial plan. Clearly, you have to be charitably inclined, as there is an irrevocable charitable component to this strategy. But in addition to helping out your favorite charity (or charities), you get several big tax advantages from this arrangement.
At some point in your life, if you have accumulated assets, you may consider using your wealth to help others. Whether that’s a child, a parent, a friend or a charity, there can be great emotional reward in making a wealth transfer to someone, or something, in need.