A Charitable Remainder Trust is a way of giving assets to your congregation and/or The Presbyterian Church in Canada through a trust agreement. A charitable remainder trust can be established by contributing cash, bonds, stock securities, mutual funds or real estate to a trustee who manages it and pays you the income earned for the rest of your life. You may choose a charitable remainder trust because you have an asset that you would eventually like to give to your congregation or the PCC, but you want to receive the income it provides now and you do not wish to part with your asset at this time. When the trust is created, you receive an immediate tax receipt for a part of the trust amount.
You will need to name a trustee, and this person or institution manages the trust. When or even if the trust’s assets produce income, the trustee pays the net income to you, the donor, or other named beneficiaries for life or for a set term or number of years.
When the trust terminates (upon your death, the death of other beneﬁciaries of the trust, or the expiry of the trust’s term), the trustee gives the remaining assets in the trust to the charity.
This is a complex gift that is planned with your personal financial advisors and is based on your individual and particular situation and those of your family and/or dependents.