The Benefits of a Charitable Remainder Trust for Tax Savings

A Charitable Remainder Trust (CRT) is a powerful tool that allows you to make a charitable donation while enjoying significant tax benefits during your lifetime.

Here’s how a Charitable Remainder Trust works and it’s benefits:

Tax Deduction: When you establish a CRT, you can receive an immediate charitable income tax deduction. This deduction is for the present value of the donation portion of the trust.This can significantly reduce taxable income in the year the trust is created.
Income Stream: While you donate assets to the trust, you can retain an income stream for a specified period. This period is typically for your lifetime or a set number of years).This allows you to continue receiving income from the trust while benefiting a charitable cause.
Capital Gains Tax Savings: The assets you donate to the CRT are sold within the trust. Because the trust is tax-exempt, it can sell appreciated assets without incurring capital gains taxes.This allows the trust to maximize the value of your donation.
Supporting Charitable Causes: After the designated income period, the remainder of the trust’s assets go to the charity or charities you choose. Thereby, ensuring your philanthropic goals are met.By using a CRT, you can support the causes you care about while also taking advantage of valuable tax savings. It’s a win-win for both you and the charity.

At The Estate & Asset Protection Law Firm, we help you make the most of your charitable giving—strategically and tax-efficiently.

A Charitable Remainder Trust is just one of the many tools we use to align your philanthropic goals with smart financial planning, allowing you to reduce taxes, generate income, and leave a lasting legacy.

If you’re ready to explore how charitable giving can become a meaningful part of your estate plan, call us at 404-370-0696 or visit www.elderlawgeorgia.com to schedule a consultation. Let’s create a plan that benefits both your future and the causes you care about most.

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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My father and I recently used the estate, an asset protection, law, firm for new wheels, new, power of attorney’s, and a creation of a trust. Brooke and her entire team could not have been more helpful and more professional! We loved working with them, and they took everything seriously therefore I didn’t have to worry about a thing. I highly recommend everyone at the law firm.

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Great firm. Had answers to all our questions and explained everything clearly. Never felt rushed to make a decision Could not ask for a better experience. Every one we dealt with was professional and knowledgeable. We highly recommend this firm for estate planning.

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Shannon provided invaluable information regarding a family estate matter. Although her firm did not quite fit our immediate needs, the consultation was informative and extremely HELPFUL! Shannon clearly explained what our next steps should be and offered to assist if we had any questions along the way. Her expertise and willingness to help puts her in a league of her own!

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02:01 23 Jan 23

Shannon and everyone at The Estate and Asset Protection Law Firm are professional, very knowledgeable, and a pleasure to work with. They answered all our questions in great detail and the plan they developed for us is exactly what we need to protect our assets and estate as we age especially with my husband's health issues.

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My husband has dementia. This firm has been patient, kind and professional while we went through a move from a house of 37 years in to a condo to be closer to my daughter and her husband. (Miami to Atlanta). There was also a wedding. All in 6 months.
We now have a trust, power of attorney. Wills for my daughter and her husband and more. All at a fair price. I could not recommend higher.

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22:03 29 Jan 22

Shannon Pawley and her team are exceptional at helping families navigate tough situations. We began working with her upon finding out my father had Stage 4 kidney cancer. His decline was more rapid than expected.
Attorney Pawley and her entire team expedited paperwork that allowed me to focus on my father’s care, make decisions that suddenly needed to be made for him medically and financially, and has allowed me the ability to focus more on grieving and less on legal matters upon his passing.
It is obvious she is knowledgeable about the best ways to navigate estates to protect the assets for the owners and their loved ones. It is just as obvious that she is passionate and has true heart for what her clients go through.
We will be using her for own estate needs, and I recommend her expertise to everybody I can.
This service is worth every penny we paid as it has saved us more money and time than I could imagine.

H Jessie Brewer

18:26 18 Nov 21

Attorney Shannon Pawley and paralegal Alexis McCoy are legal professionals that my wife and I highly recommend. Their grasp of the Georgia law pertaining to Medicaid assistance and the interworking's of the State department is exceptional. Additionally, their client-attorney relationship skills are excellent. We wouldn't hesitate to use this law firm again should the need arise.

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Shannon and her team are the best! They listened to my needs and provided the best advice. They are patient and professional as well as personable, they didn't make me feel like I was just another client. Highly recommend!