Inter vivos charitable remainder unitrusts and annuity trusts enable your clients to make significant gifts that go to charities at death while retaining income for life. When properly structured, income tax charitable deductions are allowed, and capital gains taxes on the sale of appreciated assets by the trusts are avoided, reduced or postponed. Your clients can also provide income for survivors.
But the IRS doesn’t forgive foot faults. Make a small mistake, and income, gift and estate tax charitable deductions are disallowed—and capital gains are taxable. Also, marital deductions can’t be disallowed.
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