Charitable remainder trusts

With a charitable remainder trust, the donor transfers property to a trust where it's held and managed by a trustee. The trust is most commonly funded with cash, bonds, real estate or securities which are transferred irrevocably to a trustee. If the property is income-producing, the net income will be paid to the donor or any other designated beneficiary. When the trust ends -- usually at death or a specified term -- the remainder is distributed to the Alzheimer Society of Toronto. This type of gift is a great way to reduce probate fees since these assets do not form part of your estate. The trust is particularly beneficial from a tax standpoint for people age 70 and older.

Residual interest

Gifts of residual interest refer to an arrangement under which property, such as a home or farm, is deeded to the Alzheimer Society of Toronto. The donor, however, retains the use of the property for life or for a predetermined period, and receives a charitable receipt for the present value of the residual interest.

Contact us

If you would like further information about Charitable Reminder Trusts and Residual Interest, please contact us at johare@alzheimertoronto.org.

The Alzheimer Society of Toronto understands that donors consider estate and gift planning to be a strictly confidential matter. Please be assured your enquiry will be handled in a manner that respects your privacy and maintains confidentiality. See our Privacy page for more information.

[Note: Information on this page is not intended as specific financial planning or legal advice. You should always consult your legal advisors, financial planners and family members when considering a planned gift.]

Information adapted from the Alzheimer Society of Canada