CONTACT INFORMATION

For additional information (in confidence) on how you could benefit from a charitable remainder trust, please contact:

Kathy Urner-Jones
Senior Development Officer
Rockport Music
16 Main Street
Rockport, MA  01966

T: 978-546-7391 ext. 132
E: kurnerjones@rockportmusic.org

Rockport Music is not qualified to give legal or tax advisory service. You should always consult your legal or financial advisor when considering a planned gift.

 

 

 

 

 

 

 

 

 

GIFTS THAT PAY INCOME

Charitable Trusts

Would you like to make a tax-deductible gift now and keep the income?

Perhaps a charitable remainder trust is right for you. These special planned gifts can be highly tailored to match your specific needs and wishes. If you are thinking about an estate gift of $100,000 or more, a charitable remainder trust may provide a number of benefits to you and your loved ones during your lifetime.

When you create a charitable remainder trust, you irrevocably transfer assets, such as cash, securities or other appreciated assets, to a trust which is managed by an independent trustee for either a term of years or for life.

You qualify for an income tax deduction in the year that you create your trust. In addition, you may receive capital gain tax savings if you use appreciated assets such as marketable securities or real estate to fund your trust.

Once established, the trust will pay you income, typically on a quarterly basis. When the trust term is completed, the trust pays all funds remaining in the trust to Rockport Music.

Charitable Remainder Trusts can be established at Rockport Music with a gift of $100,000 or more.

There are two main types of charitable remainder trusts:

Unitrusts 

Unitrusts provide an income that varies based on a fixed percentage of the trust’s assets as valued yearly. Because of this annual valuation, you can add to your unitrust over time to assist with your unique financial and estate planning needs. 

Annuity trusts

Annuity trusts, on the other hand, provide a fixed income based on a percentage of the initial market value of the trust. This income stream will never change, maximizing your ability to plan based on this secure annual amount. Because of this one-time valuation, however, you cannot add to an annuity trust.