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Elder Asset Management: Show Your Gratitude Through Giving And Get The Benefits Of Charitable Trusts

elder asset management

Elder Asset Management Through Charity and Charitable Trusts

Many people enjoy expressing their gratitude through the act of charitable giving. Many people also enjoy the tax deductions afforded by charitable giving. However, too few people are aware of the benefits available to themselves, their families and their favorite charities through estate and asset protection plans that include a charitable trust.

One of the most beneficial ways of achieving the dual purpose of tax deductions and doing good, is to establish a Charitable Remainder Trust (CRT). This vehicle has been in effect since 1969 and countless numbers of people have used CRTs to increase their lifetime incomes, save taxes and benefit their favorite charities.

When it Comes to Elder Estate Management and Asset Protection for Securing a Lifetime Income, Save Taxes & Benefit a Charity

A CRT lets you convert a highly appreciated asset like stock or real estate into lifetime income. It reduces your income taxes now and your estate taxes when you die. You pay no capital gains tax when the asset is sold. And it lets you help one or more charities that have special meaning to you.

A CRT Is A Win-Win For All

The way CRTs work is that you transfer an appreciated asset into an irrevocable trust. This removes the asset from your estate, so no estate taxes will be due on it when you die. You also receive an immediate charitable income tax deduction. The trustee then sells the asset at full market value, paying no capital gains tax, and re-invests the proceeds in income-producing assets. For the rest of your life, the trust pays you an income. When you die, the remaining trust assets go to one or more charities of your choice.

There are two different types of CRTs to explore depending on your circumstances.

If you are interested in elder asset management and estate planning and would like to discuss the benefits of Charitable Trusts and determine whether or not it would be in your best interest to establish one, give our office a call.


Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!

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