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If you want to make an impact now at The Assistance Fund and also provide for your family later, consider setting up a charitable lead trust. You transfer cash or other assets to a trust that makes payments to The Assistance Fund for a period of time. When the term is up, the remaining trust passes to your family or other beneficiaries you select.
There are two ways that charitable lead trusts make payments to TAF:
George would like to support TAF and provide for his children. George received a windfall amount of income and needs a large income tax deduction to offset the income. Following his advisor's recommendation, George funds a grantor charitable lead annuity trust with assets valued at $1,000,000. George's trust pays $70,000 (7% of the initial fair market value) to TAF each year for 15 years, which will total $1,050,000. After that, the balance in the trust reverts back to George. He receives an income tax charitable deduction of $955,700. Assuming the trust earns an average 6% annual rate of return, George receives approximately $767,240 at the end of the trust term.
*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
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Legal name: The Assistance Fund, Inc.
Address: 4700 Millenia Blvd., Suite 410, Orlando, FL 32839
Federal tax ID number: 270270731
See which type of charitable trust best fits your estate plan with the FREE guide Trusts: Choose From Two Ways to Donate.View My Guide