Many donors choose to leave charitable assets upon their deaths. After assuring that their loved ones have been cared for, donors can use a variety of assets, such as pension plans, life insurance or the proceeds from the sale of a house, for charitable purposes. We encourage you to work with your lawyer or financial advisor as you consider these options.
A more detailed contract provides an income stream for life and a tax deduction for the value of the charitable interest. The charitable remainder annuity trust or unitrust interest will be valued and this value taken as a charitable deduction. For a charitable lead annuity trust or lead unitrust, the present value of the income stream is a deduction for estate tax purposes.