Psalm 1:3, 5 “They are like trees, planted by streams of water, which yield their fruit in its season, and their leaves do not wither. In all that they do, they prosper…For the Lord watches over the way of the righteous.”
Charitable Remainder Trusts is a planned gift through which a donor transfers cash, securities or real estate to a trustee who holds and manages the assets during the donor’s lifetime. Income from the assets is paid to you for life or the term of the trust, and then the remainder is transferred to the Diocese of Saskatoon Catholic Foundation Inc. upon the termination of the trust.
You establish a living trust by contributing cash or other property. Throughout your lifetime, you receive income from the trust, but upon your death, the “remainder” will pass directly to the charity you name as the beneficiary. This approach provides immediate tax relief to you, instead of your future estate. The trust can be set up so that the property passes to the charity only when both spouses and other income beneficiary pass away.
To set up a Charitable Remainder Trust, you will need a lawyer experienced in estates and trusts.
If you wish to designate a specific use for your gift (a ministry or program), please contact Jocelyne Hamoline, Planned Gift Officer at the address above, by email at firstname.lastname@example.org or by telephone at 306-659-5849.
This information is general in nature and does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning and/or financial advice before deciding on your course of action.