Gift Planning

Charitable Remainder Unitrust

The unitrust provides for annual payments of a specified percentage—at least 5% of the value of the trust as it is valued each year—to the designated beneficiary(ies). Since the value of trust assets may vary from year to year, the payments may also vary. At the death of the last income beneficiary, the trust principal is distributed to the Gardens.

In addition to the income you will receive from the trust, you will also be entitled to a charitable income-tax deduction for the value of our remainder interest in the trust assets.

Gift Range: $100,000 or more

Example: George and Miriam purchased growth stock for $20,000 ten years ago. It is now valued at $100,000, but the annual dividends are only $1,500. Now that they are both 65, they would like to augment their retirement income. To do this, they transfer the stock to a charitable remainder unitrust with a 6% payout rate.

In the first year, they will receive a $6,000 payment—four times the dividends they have been receiving—and those payments will increase in time if the assets of the unitrust appreciate in value. Moreover, they avoid tax on their profit in the stock and receive an income-tax deduction of about $27,400. In their 24% tax bracket, this saves them more than $6,575 in income taxes (24% of $27,400).

When the last beneficiary dies, the unitrust assets will benefit the Gardens.

More Information

Contact Us

Melissa Tyrone
Director of Philanthropy & Membership
863-734-1213
mtyrone@boktower.org

Federal Tax ID Number: 23-1352009

 

Bok Tower Gardens
1151 Tower Blvd.
Lake Wales, FL 33853

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BOK TOWER GARDENS

1151 Tower Boulevard

Lake Wales, Florida 33853

863-676-1408

info@boktowergardens.org

Sponsored in part by the State of Florida,
Department of State, Division of Cultural Affairs,
and Visit Central Florida.
A copy of the official registration and financial information may be obtained from the Division of Consumer Services by calling toll-free within the state. 1-800-435-7352. FreshFromFlorida.com registration does not imply endorsement, approval, or recommendation by the state. Charitable Registration Number: CH1161

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