Charitable Remainder Trust

Estate and Planned GivingCharitable Remainder Trust

You can make a gift of cash, appreciated securities, or real estate to a charitable remainder trust that pays income to you or others you select for life or a term of years. At the end of the trust's term, the remaining principal is distributed to Benedictine College Preparatory and/or Saint Gertrude High School for its greatest needs, or for a purpose you have specified. You can supplement your retirement income, help to pay for a child's or grandchild's education, or provide support for an elderly parent with income from a charitable remainder trust, and still give significant support to advance the education at Benedictine College Preparatory and/or Saint Gertrude High School, all while receiving tax benefits. You may even increase your income from giving appreciated stock or real estate over what those assets are currently providing for you. This plan works best for people age 55 or older.
These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:
  • The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.
  • The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

An example of how it works:

Pete, 75, wants to make a gift to Benedictine College Preparatory and/or Saint Gertrude High School but would also like more income in the future. Pete creates a charitable remainder unitrust with annual lifetime payments to his equal to 5% of the fair market value of the trust assets as revalued annually. He funds the trust with assets valued at $500,000.

Pete receives $25,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. He is eligible for a federal income tax charitable deduction of $299,845* in the year he creates and funds the trust. This deduction saves Pete $95,950 in his 32% tax bracket.

*Based on a 1.2% charitable mid-term federal rate. Deductions and calculations will vary depending on your personal circumstances.

Next Steps:

Contact Director of Scholarship Giving
Kristina Pudner at 804.708.9581 or

Seek the advice of your financial or legal advisor.

List of 1 members.

  • Photo of Kristina Pudner

    Kristina Pudner 

    Director of Scholarship Giving

Legal Tax Information

If you include Benedictine College Preparatory and/or Saint Gertrude High School in your plans, please use the legal name (Benedictine Schools Educational Foundation) and federal tax ID number (45-3960058). Address is: 12829 River Road, Richmond, VA 23238