Charitable Remainder Trust
Charitable Remainder Trusts (CRTs) are extremely flexible and can be structured to meet almost any personal and philanthropic goal. CRTs can be funded with a variety of assets, including cash, securities, stock, farm and timber property, business assets, and residential property. You (or a beneficiary) receive annual income for life or the term of the trust and the remainder goes to Washington State University to benefit the area designated in the Gift Use Agreement.
How a Charitable Remainder Trust Works
A CRT allows you to provide income to yourself or others for life while making a generous gift to WSU. It works in the following way:
You irrevocably transfer assets into the trust.
In return, you and the beneficiaries you've selected receive income.
You receive a charitable income tax deduction.
You avoid capital gains tax on any appreciation in the transferred asset.
You reduce the size of your estate.
You receive the satisfaction of making an important future gift to WSU.
When the trust terminates, the remaining principal passes to WSU to be used for the purpose you designate.
Creating a Charitable Remainder Trust
You or your advisors contact the Gift Planning Office to discuss your personal and philanthropic goals.
The Gift Planning team will create a custom illustration to outline how a CRT can help you meet your goals.
The WSU Foundation can serve as trustee, providing trust administration and asset management.
If the WSU Foundation serves as trustee, our attorney drafts the trust at no cost to you.
The WSU Foundation prepares a Gift Use Agreement outlining your wishes for the future use of the trust remainder.
You receive recognition for your gift and become a member of the Legacy Associates. If you prefer, we will honor your wish to remain anonymous.