Charitable Remainder Trusts

Help to Secure Western's Vision for Tomorrow

A charitable remainder trust will allow you to make a gift now, receive immediate tax benefit and continue to receive the income for as long as you, or you and your spouse live, or for a specified number of years. It provides you with a donation receipt the year you make your gift. Placing the asset in trust also frees you from management responsibility and removes the property from your estate, guaranteeing your privacy. A Charitable Remainder Trust is a legal agreement that allows you to make an irrevocable gift to Western now and continue to benefit from it throughout your lifetime.

Advantages of Giving Charitable Remainder Trusts

• Charitable remainder trusts will provide you with the satisfaction of making a sizeable gift to Western.
• You will continue to receive the income generated by the capital for as long as you, or you and your spouse live, or for a specified number of years.
• You will receive a donation receipt now that you can use to offset current tax liabilities.
• No matter how much taxable gain is attributable to the charitable remainder of your trust, the tax credit resulting from your donation receipt will always exceed the tax on the gain.
• A charitable remainder trust removes the property from your estate, guaranteeing your privacy and reducing probate and other estate fees.
• You will be free from management responsibility of the asset.

Who Benefits From a Charitable Remainder Trust Gift

• From a tax standpoint, charitable remainder trusts will be primarily of interest to upper income donors who are age 70 and older.
• The donor is typically in a high marginal tax bracket, has a philanthropic intent and the ability to donate some of their assets.
• Normally a donor should be in a position to establish a trust worth at least $100,000 initially or after a few contributions, as there will be professional fees for set-up and annual administration.

Create Your Legacy

To ensure that your particular needs are met and that your wishes are honoured, you should consult your life insurance agent and any other pertinent advisors. You should also contact Gift Planning Office to let us know about your intentions. Not only can we assist you in making sure things move along smoothly, we also need to discuss how you would like the eventual proceeds from your insurance policy put to use. It is also important for us to know whether you wish to be recognized for your contribution or prefer to remain anonymous.

If you have made arrangements to make a planned gift to Western, we request that you send us a completed Statement of Intent (8K PDF) form so that we may ensure proper administration of your gift.