Planned Giving

Charitable Remainder Annuity Trust

The charitable remainder annuity trust (CRAT) is irrevocable and provides a fixed income based on the value of the assets at the time the trust is created. You create a trust and income from the trust goes to the beneficiaries you specify. Beneficiaries receive income for life or for a specified number of years. At the end of the trust term, the assets of the trust pass to Claflin University. Capital gains tax can be avoided or postponed when the trust is created, and an income tax deduction is available for a portion of the property value. There can also be estate tax benefits.Charitable remainder trusts provide a means to receive an immediate income tax deduction, income for life, and a meaningful gift to charity at death or at the end of the term of the trust.

The trust features include:

• income for life (a fixed payment)
• generally one or two beneficiaries
• a high minimum, usually $100,000 or more
• funding by cash or highly appreciated securities or real estate
• a separately invested trust

To make a gift or to request additional information about deferred charitable gift annuities, contact:

Sunya L. Young
Director of Planned Giving
Division of Institutional Advancement
400 Magnolia Street Orangeburg, SC 29115
Phone: (803)535-5704; Toll Free: (888)223-7103; Fax: (803)535-5371
E-mail: syoung@claflin.edu

The information provided on this website is for informational purposes only and is not intended as legal, tax or investment advice. Please consult your accountant, financial advisor or attorney to assist you in determining which planned giving option is most appropriate given your financial goals and objectives.