About: Charitable remainder unitrust

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A charitable remainder unitrust (known as a "CRUT") is an irrevocable trust created under the authority of Internal Revenue Code § 664 ("Code"). This special, irrevocable trust has two primary characteristics: (1) Once established, the CRUT distributes a fixed percentage of the value of its assets (on an annual or more frequent basis) to a non-charitable beneficiary (which is considered the settlor of the trust); and (2) At the expiration of a specified time (usually the death of the settlor), the remaining balance of the CRUTs assets are distributed to charity. The trustee determines the fair market value of the CRUT's assets at the time of contribution, and thereafter on the applicable valuation date. The fixed annuity percentage must be at least 5% and no more than 50% of the fair marke

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rdf:type	yago:WikicatWillsAndTrusts yago:Ability105616246 yago:Abstraction100002137 yago:Cognition100023271 yago:Faculty105650329 yago:PsychologicalFeature100023100 organisation yago:Volition105652593
rdfs:label	Charitable remainder unitrust (en)
rdfs:comment	A charitable remainder unitrust (known as a "CRUT") is an irrevocable trust created under the authority of Internal Revenue Code § 664 ("Code"). This special, irrevocable trust has two primary characteristics: (1) Once established, the CRUT distributes a fixed percentage of the value of its assets (on an annual or more frequent basis) to a non-charitable beneficiary (which is considered the settlor of the trust); and (2) At the expiration of a specified time (usually the death of the settlor), the remaining balance of the CRUTs assets are distributed to charity. The trustee determines the fair market value of the CRUT's assets at the time of contribution, and thereafter on the applicable valuation date. The fixed annuity percentage must be at least 5% and no more than 50% of the fair marke (en)
dcterms:subject	Taxation in the United States Wills and trusts
Wikipage page ID	10782011 (xsd:integer)
Wikipage revision ID	992285085 (xsd:integer)
Link from a Wikipage to another Wikipage	Internal Revenue Code Taxation in the United States Fair market value Wills and trusts Tax Reform Act of 1969 Trust law Trustee Natural person Settlor
Link from a Wikipage to an external page	https://web.archive.org/web/20110812131535/http:/ag.ca.gov/charities/forms/charitable/ct1-form.pdf https://web.archive.org/web/20160303231915/http:/ag.ca.gov/charities/pdf/GovCodes12580-12599_1.pdf https://www.irs.gov/irb/2005-34_IRB/ar02.html https://www.law.cornell.edu/uscode/26/170.html%23c https://www.law.cornell.edu/uscode/search/display.html%3Fterms=664&url=/uscode/html/uscode26/usc_sec_26_00000664----000-.html https://www.bloomberg.com/news/2012-10-29/romney-avoids-taxes-via-loophole-cutting-mormon-donations.html http://edocket.access.gpo.gov/cfr_2009/aprqtr/pdf/26cfr1.664-4.pdf
sameAs	Charitable remainder unitrust Charitable remainder unitrust Charitable remainder unitrust Charitable remainder unitrust
dbp:wikiPageUsesTemplate	dbt:Citation_needed dbt:Reflist dbt:UStaxation dbt:USCSec dbt:USCSub dbt:Charity dbt:USCSub2
has abstract	A charitable remainder unitrust (known as a "CRUT") is an irrevocable trust created under the authority of Internal Revenue Code § 664 ("Code"). This special, irrevocable trust has two primary characteristics: (1) Once established, the CRUT distributes a fixed percentage of the value of its assets (on an annual or more frequent basis) to a non-charitable beneficiary (which is considered the settlor of the trust); and (2) At the expiration of a specified time (usually the death of the settlor), the remaining balance of the CRUTs assets are distributed to charity. The trustee determines the fair market value of the CRUT's assets at the time of contribution, and thereafter on the applicable valuation date. The fixed annuity percentage must be at least 5% and no more than 50% of the fair market value of the assets in the corpus. The remainder (the amount expected to go to charity) must be at least 10% of the fair market value of the assets contributed to the CRUT. Code Section 664(d)(1) sets the federal income tax requirements for a charitable remainder unitrust. Example Assume an individual, Mr. Smith, has $1 million of publicly traded stock and would like to establish a CRUT. Assume the CRUT is set up to pay the annuity to Mr. Smith over his lifetime. Mr. Smith selects a 10% CRUT. The CRUT will pay Mr. Smith 10% of its assets (initially $100,000) per year until Mr. Smith dies. At that time, any balance remaining in the CRUT will be distributed to charity. The term "unitrust" means the annuity percentage is fixed; the CRUT will distribute 10% of the value of the CRUT's assets each year, the CRUT's value may increase or decrease over time. (en)
gold:hypernym	Trust
prov:wasDerivedFrom	wikipedia-en:Charitable_remainder_unitrust?oldid=992285085&ns=0
page length (characters) of wiki page	13327 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Charitable_remainder_unitrust
is Link from a Wikipage to another Wikipage of	Barron Hilton Charitable trust Conrad Hilton Conrad N. Hilton Foundation Gretchen Schuette Planned giving
is foaf:primaryTopic of	wikipedia-en:Charitable_remainder_unitrust

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