Charitable Remainder Trusts

"Give the tree but keep the fruit." Charitable remainder trusts are a good way to retain the income (in many cases, increase the income) from an asset, while making a substantial gift.

A donor irrevocably transfers property (cash, securities, real estate) to the Key Center Foundation. The income from the property is then paid to the donor (or anyone the donor chooses) either as a percentage of the trust principal or a fixed dollar amount for life or a term of years. At the beneficiary's death, the Foundation receives the trust.

This donation triggers an immediate charitable income tax deduction. Trusts can be created during one's lifetime or by will. This vehicle is particularly good for the donation of long-term appreciated securities, avoiding both capital gains taxes and estate taxes.

The Key Center Foundation will be pleased to assist potential donors to design a planned gift. Please contact Melissa Walker at (352) 795-5541 ext. 203 or email at kcenter@tampabay.rr.com.