Charitable Remainder Trust

A Charitable Remainder Trust (CRT) enables you to contribute to NewYork-Presbyterian Hospital while providing an income for yourself and/or other beneficiaries for life, a term of years, or both. This individually managed trust may be tailored to suit your objectives: you may build a retirement account, generate a higher income from assets you currently own, or provide for your spouse, family members or other beneficiaries.

The Type of Income You Receive

The CRT pays you a variable income, based on a fixed percentage of the trust assets as revalued once each year, typically, between 5% and 7%. One of the advantages of the unitrust is that your income may increase as the trust principal grows over time.

How You Save Taxes

When you establish a CRT, you may receive an immediate federal income tax deduction for a portion of your gift. If you fund the trust with appreciated property, you may avoid long-term capital gains taxes. You also may realize significant estate tax benefits.

How You Can Establish a Unitrust

It is usually most cost efficient to establish a CRT with an irrevocable gift valued at $500,000 or more. A variety of assets may be donated to the trust, including cash, publicly traded stocks and bonds, closely held stock, real estate and tangible personal property such as artwork. Income beneficiaries must be at least 60 years old. NewYork-Presbyterian Hospital CRTs are invested and administered through BNY Mellon.

Note: As you consider any charitable gift plan, please consult with your tax or financial advisor to determine the tax/financial implications for you and your family.NewYork-Presbyterian does not provide legal or tax advice. This communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.