Charitable Trusts

Charitable gifts may be structured through the use of trusts such as a Charitable Remainder Trust (CRT) and a Charitable Lead Trust (CLT).

Charitable Remainder Trust (CRT)

This type trust allows donors to retain income from trust assets during their lifetime or for a specified number of years after which the remaining trust assets are transferred to the Lake Rabun Fund at North Georgia Community Foundation.  Added benefits of this type trust include a charitable contribution deduction in the year assets are transferred to the trust and deferral of recognition of capital gains upon disposition of contributed assets.

Charitable Lead Trust (CLT)

A charitable lead trust makes annual payments to the Lake Rabun Fund at North Georgia Community Foundation during the donor’s lifetime or for a specified number of years after which the remaining trust assets are returned to the donor or to the donor’s named beneficiary.  This type trust permits the transfer of assets to others without incurring estate, gift and income taxes related to the transfer.