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Charitable Giving Instruments
Charitable Remainder Trust
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A charitable remainder trust (“CRT”) provides a way for an individual to make a deferred, or future, gift to charity. The donor creates a CRT, naming either him/her/themselves or a third party as Trustee of the trust (Lair Administration Services, LLC does NOT serve as Trustee), and makes a gift of assets to the CRT. Upon making such a gift, the donor receives an immediate, partial income tax deduction based upon the value of the charitable portion of the gift. See FAQ for how the charitable deduction is calculated.

The Trustee can then sell the gifted assets inside the CRT and pay NO capital gains tax on the sale because the trust is deemed to be tax-exempt under Internal Revenue Code (“IRC” or the “Code”) Section 664. For this reason, gifts of highly-appreciated assets often make attractive candidates for gifting to a CRT.

The CRT pays an income stream to a non-charitable beneficiary for either a term of years or for the remainder of that beneficiary’s lifetime (or joint lives in the case of more than one beneficiary). In many instances, the donor is also the income beneficiary of the CRT. See FAQ for the method used to determine how income is taxed to the beneficiary.

At the end of the trust term or upon the death of the last income beneficiary to die, the assets in the CRT are distributed to charitable organizations as provided for in the trust instrument.

Charitable Remainder Unitrust Net Income with Makeup Charitable Remainder Unitrust Charitable Remainder Annuity Trust

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