A Charitable Remainder Trust allows you to make a generous gift to Evergreen, receive immediate tax savings and continue to receive income for life.

When a Charitable Remainder Trust is set up, your gift is held in trust for the remainder of your life and you continue to receive all of the income produced by the Trust. Upon your death, the original gift amount, or “remainder,” is gifted directly to Evergreen.

The legal and financial fees to set up a trust will depend on its complexity. Normally the trust should be worth at least $100,000 so that the tax benefits outweigh the set-up and ongoing administration fees. Tax considerations when setting up a Charitable Remainder Trust

The value of your charitable tax receipt will be the dollar value of your gift today adjusted for your life expectancy. For example, if actuarial tables predict it will be 30 years before Evergreen receives the proceeds of the trust; your tax-receipt will be discounted from the current dollar value accordingly.

If you are considering transferring shares or other property into a Charitable Remainder Trust, this will trigger capital gains tax if the holdings have appreciated since you purchased them (proposed legislation may eliminate this capital gains tax). However, the charitable tax receipt will usually offset the capital gains tax owing.

The Charitable Remainder Trust can be held and managed by the financial institution of your choice. The income you receive from the trust is taxable.

Unlike a bequest in your will, the proceeds from a Charitable Remainder Trust are not subject to probate.

For more information please contact Nicola Hives:
416-596-1495 x309
1-888-426-3138 x309
nhives@evergreen.ca