Charitable Remainder Trusts
Charitable remainder trusts offer supporters a way to provide for their loved ones immediately while also supporting Lambda Legal. Charitable remainder trusts are created by transferring assets to a trust, which then provides income to your partner, children, a friend, or even yourself over a period of time. After that period, the principal passes to Lambda Legal.
TAX BENEFITS: When you create a charitable remainder trust, you receive an immediate tax deduction based on Lambda Legal’s remainder interest in the trust and decrease estate taxes. If you create a charitable remainder trust with an appreciated asset, you may also avoid capital gains taxes.
Charitable Lead Trusts
A charitable lead trust functions like a mirror image of a charitable remainder trust. You create a charitable lead trust by transferring assets to the trust. The trust then pays Lambda Legal an annual income for a fixed number of years, after which the principal from the trust reverts to you, your partner, children or other beneficiary(ies) you name.
TAX BENEFITS: When you create a charitable lead trust, you receive an immediate income tax deduction based on cumulative figure payments to Lambda Legal, a possible gift or estate tax deduction, a possible reduction in the generation-skipping transfer tax and you can preserve your inheritance for your heirs.
This information is not intended as legal advice. For more information about life-planning vehicles and making a planned gift to Lambda Legal, be sure to consult with a professional who is familiar with the laws in your state. For help finding a professional in your area, contact our Associate Director of Legacy Giving, Jonathan Menke at 212-809-8585 or [email protected].