Charitable Remainder Trust

The Charitable Remainder Trust is an individual trust that allows you to provide income to yourself and/or others while making a generous gift to North Shore Medical Center (NSMC). The income may continue for the lifetimes of the beneficiaries you name, or for a fixed term. By irrevocably transferring assets -- typically cash, securities, or real estate – into a trust you will accomplish several objectives: positive tax benefits, a favorable income stream, and the ability to benefit NSMC and perhaps additional charities.

How Charitable Remainder Trusts Work



A Charitable Remainder Trust may be established either during your lifetime to benefit you and/or beneficiaries that you chose -- or upon your death to benefit beneficiaries for their lifetime or for a term of years. Once the trust terminates, the remaining value is transferred to benefit NSMC.

When creating a Charitable Remainder Trust you receive a current income tax deduction equal to the value of the remainder interest that will eventually pass to NSMC. If you use appreciated stock to create the trust, you avoid the capital gains tax you would have paid if you sold the stock yourself. Once the trust holds the stock, it can be sold and reinvested in a diversified portfolio.

There are two types of Charitable Remainder Trusts: The Charitable Remainder Unitrust, and the Charitable Remainder Annuity Trust.

Mike Davenport, Director of Planned Giving (978-825-6306, or email) would welcome an opportunity to have a conversation with you to help you determine if these special gifting opportunities would be right for your particular circumstances and objectives.

Donors who include North Shore Medical Center as a beneficiary in a charitable remainder trust are recognized as members of the North Shore Medical Center 1874 Charter Society.