The Washington Trust will consider accepting gifts of real estate via a Charitable Remainder Unitrust (CRUT).
A Charitable Remainder Unitrust is an estate planning tool that provides income to a named beneficiary during the grantor’s life and then the remainder of the trust to a charitable cause. The donor or members of the donor’s family are usually the initial beneficiaries. The trust provides variable income to the beneficiary, which is based on a percentage of the fair market value of the assets in the trust. This amount is revalued each year. Charitable Remainder Unitrusts allow a donor to retain a steady income stream while avoiding capital gains taxes.
Gifts of real estate rendered through a CRUT must be approved by the Washington Trust board of directors before being accepted. To discuss your gift of real estate, contact Development Director Kristy Conrad at 206-624-9449 or email@example.com.
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