Planned Gifts - Reliable, Stable, Yet Generous Income
A charitable remainder annuity trust provides fixed annual payments for any number of beneficiaries. Upon termination of the annual payments to the beneficiaries, the remainder of the trust passes to the University of Florida Foundation. Like a unitrust, an annuity trust can be for the life of one or more individuals or for a specified term up to 20 years. In a charitable remainder annuity trust, a fixed annual payment is negotiated at the inception of the trust. Thus, the beneficiary receives the same annual payment regardless of the performance of the trust assets. As with all of the life income gifts, the donor is eligible for a tax deduction for the value of the remainder interest in the year of the gift.
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