Charitable Trusts

South WallThere are several ways to make a gift today that will benefit Monticello sometime in the future. A Charitable Remainder Unitrust (CRUT) removes an asset from the donor's estate and designates the Foundation as the trustee or the irrevocable beneficiary. CRUTs provide donors with a current tax deduction and allow them to retain the income generated by the asset during their own, and sometimes an additional beneficiary's, lifetime(s). The remainder value of the trust, when it is dissolved on the death of the last beneficiary, supports Monticello. For trusts of $100,000 or more, the Foundation will act as trustee.

A Charitable Lead Trust is a different type of deferred gift in which a donor puts an asset in trust for a period of time so that the income generated by the asset benefits the Foundation. At the end of the designated period, the asset is passed on to a named recipient. This is an especially tax advantageous gift vehicle for passing an asset from one generation to another while also helping Monticello.

The Foundation is prepared to work with donors, their attorneys, and financial planners in setting up and administering trusts, to include the preparation of trust tax returns. For more information, please call Joshua Scott at (434) 984-9829, or e-mail us at jscott@monticello.org.

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