Charitable Trust
Many people wish to make gifts of money or property to a charitable organization. Charitable trusts use a form of irrevocable trust as the vehicle by which to make their charitable gifts.
Advantages:
- Resolves Uncertainty - allows grantor to defer the gift to charity until after death while grantor continues to receive income from the property.
- Income Tax Savings - obtain immediate federal income tax deduction for part of current value of gift while avoiding long-term capital gains for appreciated property.
- Estate Tax Savings - qualifies for estate and gift tax deductions.
Non-deposit investment products are not insured by FDIC, not a deposit or other obligation of, or guaranteed by Boone Bank & Trust Co., and may be subject to investment risk, including possible loss of the principal amount invested.
