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Tax-Wise Charitable Remainder Trust PlanningTax-Wise Charitable Remainder Trust Planning

Getting it right; fixing up the other guy’s mistakes.

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Conrad Teitell, Heather J. Rhoadesand 1 more

November 28, 2023

20 Min Read
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When it comes to charitable remainder trusts (CRTs), Groucho Marx’s line from the 1930 movie Duck Soup is instructive: “Why, a four-year-old child could understand this report. Run out and find me a four-year-old child.  I can’t make head or tail out of it.”1

This is the third article in our three-part series about charitable trusts. Our first article covered ugly tax schemes that caused trouble for donors and their advisors,2 and our second article discussed charitable remainder unitrusts (CRUTs) and charitable remainder annuity trusts (CRATs).3 To wrap up the series, we’ll explain the gift and estate tax rules and how to qualify for the CRAT and CRUT safe harbors. And how to fix up muck ups.  

 

Gift Tax Rules 

The income tax rules (previo...

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About the Authors

Conrad Teitell

President, Taxwise Giving

Conrad Teitell, A.B., LL.B., LL.M., 98.6. Chairman, National Charitable Planning Group, Cummings & Lockwood, Stamford Conn. For information about Conrad Teitell's publications and lectures visit taxwisegiving.com.

Heather J. Rhoades

 

Heather J. Rhoades practices in the areas of estate planning, estate settlement, trust administration and charitable planning.  She is resident in the West Hartford office where she is a Principal in the Private Clients Group.  She is a member of the firm’s charitable planning group.

Heather received her B.A. from the University of Connecticut and her J.D. from the University of Connecticut School of Law.  She now serves as a mentor for UCONN law students in their first year.

Heather is admitted to practice in Connecticut and is a member of the American, Connecticut and Hartford County Bar Associations.  She is also a member of the Executive Committee of the Estates and Probate Section of the Connecticut Bar Association and is co-chair of the continuing legal education subcommittee of this Section.  Heather is a member of the Hartford Foundation for Public Giving Professional Advisory Committee and the UCONN Foundation Planned Giving Professional Advisory Council.  In addition, Heather is a Director of the Estate and Business Planning Council of Hartford and chair of the seminar committee of the Council.

Heather is a frequent speaker on estate and tax planning issues and has authored a number of articles focusing on various estate planning subjects.

Brianna L. Marquis

Associate, Cummings & Lockwood

Brianna L. Marquis is an associate in Cummings & Lockwood's Private Clients Group and is based in the West Hartford office.