Estate planning is a method often used by donors to give to non-profit organizations they care about so that they can continue to make an impact, long after they are gone.

But, many donors want to share their devotion to causes they care deeply about with other family members by making an impactful major gift while they are alive.

A donor who is interested in furthering the educational and research mission of the Georgia Historical Society (GHS) during their lifetime may wish to consult with their financial or legal advisor about creating a Charitable Remainder Trust, or CRT.   A CRT allows donors to convert a highly appreciated asset like stock or real estate into lifetime income.   When a donor transfers property into a CRT, the donor will avoid paying capital gains tax on the appreciated asset when the asset is sold within the CRT.   The CRT may then utilize the proceeds of the sale to invest in other income producing property, which may, in some cases, produce more income for the donor/beneficiary than the original asset.  Upon the donor’s passing, the remainder of the trust passes to the Georgia Historical Society.

A gift of this type may result in some tax and estate benefits to the donor, such as allowing the donor to take an immediate tax deduction based on the estimated amount that will eventually flow to GHS. This type of charitable gift also allows for a predictable income stream over a specific period of time or for the life of the donor.

In addition to the possible financial benefits of a charitable remainder trust, the donor will also be able to enjoy other benefits while he/she is alive.  Donors can work with the charity to ensure their future gift is allocated according to their wishes. This may also allow the donor more opportunity to become more aware of the institution’s work, and share their passion for GHS with their family members and the public-perhaps even encouraging others to become involved with GHS and its educational and research mission.

Are you interested in making an impact now?  Consult with your legal or financial advisor and contact Cherie Trice, Senior Development Officer, at ctrice@georgiahistory.com or call her at 912.234.3431, ext. 141 to learn more. We are grateful for your consideration and we look forward to talking with you soon.