This arrangement is an individually managed trust that may be tailored to meet your specific financial needs and can provide either a fixed or variable income for the life of the beneficiaries or for a set number of years, not to exceed 20.
The donated assets (typically cash, securities, and/or real property) are irrevocably transferred to a Trustee. There are two variations:
- A charitable remainder annuity trust pays income as a fixed dollar amount that remains constant for the term of the trust.
- A charitable remainder unitrust pays income that varies from year to year.
At the termination of the trust, the remaining assets pass to the Metropolitan for its general purposes or for the use you specify. A charitable deduction for a portion of your contribution is available on your income tax return in the year you make the gift.
Our Planned Giving Calculator is designed to provide you with an illustration of the income and tax benefits to which you may be entitled if you establish a charitable remainder trust to benefit the Metropolitan. Please use either charitable remainder annuity trust or charitable remainder unitrust (as defined on the calculator page) when indicating "gift type." For proper results, please indicate under "term type" either the birth date(s) of the income beneficiary(ies) or the number of years (up to 20) you wish the trust to last.
An example illustrates how charitable remainder trusts work.