Calvin wants to know the characteristics of a charitable remainder trust. What is true of these trusts?

Question

Quizplus · Accepted Answer

Charitable remainder trusts must have at least one non-charitable income beneficiary. The donor retains a limited right to enjoy the property while receiving an income tax deduction and reducing federal estate tax. The charitable remainder trust must have an irrevocable remainder interest to be held for or paid to a charity. The grantor has the right to change the charitable remainderman without causing inclusion in the grantor's estate.

Calvin Wants to Know the Characteristics of a Charitable Remainder