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| ANNUITIES AND TRUSTS |
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A
Lifetime Investment in Hope Community Resources for Alaskans
who Experience a Disability
Annuities and trusts are another means of making a charitable
contribution to Hope Community Resources, Inc. (Hope) that will
provide for future generations of Alaskans who experience a disability
and the future of Hope.
There
are many forms of annuities and trusts, each having its own advantages.
If you are considering naming Hope as a beneficiary of an annuity
or trust, you should familiarize yourself with the types of annuities
and trusts that are commonly used:
- Charitable Remainder Annuity Trust: Provides for a donor
to transfer property to a trustee subject to the donor's right
to receive a fixed percentage of the initial fair market value
of the property for as long as he/she lives. Whatever remains
in the trust at his death becomes the property of the beneficiary
institution.
- Charitable Remainder Unitrust: A trust created by the
Tax Reform Act of 1969, it is similar to the charitable remainder
annuity trust in many ways. The difference is that the income
is a percentage of the fair market value of the property as
determined annually.
- Gift Annuity: An agreement in which a donor makes a gift
to a charity which in turn provides stipulated annual payments
for life to one or two persons.
- Irrevocable Living Trust: A trust which cannot be revoked
by the trustor.
- Revisionary Living Trust: A trust which is irrevocable
for a term of years with the income being paid to the charity
during this term. There is a provision for the property to revert
back to the trustor at the end of the term.
- Revocable Living Trust: A trust which may be revoked at
any time by the trustor (with reasonable advance warning of
the intention to revoke the trust).
- Survivorship Gift Annuity: A gift annuity which provides
income payments to a second beneficiary surviving the first
beneficiary. The payments are made to both parties while they
are alive, then to the surviving beneficiary for the remainder
of his life.
- Testamentary Trust: A trust created by a provision in a
person's will.
All
donations, including annuities and trusts to Hope, have varying
tax advantages to the donor. Donors should consult with a lawyer
or estate planner to seek their maximum tax benefits.
For
more information, or if you have any questions, please contact Hope's
Deputy Director of Public Relations and Resource Development at 1-907-561-5335
or by email at kjez@hopealaska.org
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