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Charitable Trusts
Giving through a charitable trust helps secure the future of WNED; provides a tax incentive for your estate; and generates income for you and your loved ones. Prior to completing any of these transactions, please have your advisor contact Colleen Miller at 716-845-7031 or cmillerATwnedDOTorg, to request WNED's policies relating to these types of gifts.
The Charitable Remainder Trust generates income for you and/or your loved ones for life or for a specific period of time. The remaining principal of the trust is distributed to WNED at the time of death or at the end of a specific period of time. There are two types of this trust:
- A Charitable Remainder unitrust provides a flexible rate of return based on the value of the trust, which is revalued each year. You may make additional gifts to this trust.
- A Charitable Remainder annuity trust pays a fixed guaranteed income determined when the trust is established. You cannot add gifts to this trust.
The Charitable Lead Trust is the reverse of a remainder trust. The income from this trust is paid to WNED for the lifetime of the donor(s) or a set term of years. The remainder reverts back to you, your estate, or specific beneficiaries.
The payout may be either a fixed sum (annuity trust interest) or percentage of the trust assets as valued each year.
Choosing to support an organization through a planned gift is truly a most gracious act. WNED strongly recommends you involve loved ones and professional advisors in the process.
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