Estate Planning
4 months ago
Charitable remainder trust — can it reduce taxes while providing retirement income?
19
I have $500k in highly appreciated stock (basis $50k) that I'd like to diversify without paying massive capital gains tax. My advisor mentioned a charitable remainder trust (CRT). Can you explain how this works? I transfer the stock to the trust, the trust sells it tax-free, reinvests, and pays me income for life, with the remainder going to charity? What are the income tax and estate tax benefits?
DR
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