Charitable Remainder Trust (CRT)
There are two types of irrevocable Charitable Remainder Trusts: the Unitrust and the Annuity Trust. While both provide donors with a life income, the Unitrust pays out a fixed percentage of the current value of the trust, determined annually; the Annuity Trust pays out a fixed and certain dollar amount for life. After your lifetime the principal of your trust goes to the Palm Healthcare Foundation. In sum, the CRT offers individuals a life income, immediate tax savings, freedom from investment worries and avoidance of capital gains if highly appreciated securities were used to fund the trust.