ࡱ> dbe#` bjbj A0Z%HHH8$s)"((((((($++h-z))-)zzzX(z(zzr#T$ r Hd$(C)0s)"$ /v /$$& /' zQ))"Xs) d   Growing As Gods Stewards An Invitation To Legacy Giving Using a Charitable Remainder Trust Anglican Diocese of Ottawa  Discovering the Spirit of Mission: Living the Year of the Lords Favour (Luke 4:19) The Charitable Remainder Trust You may have an asset a sum of cash, appreciated securities or real estate that youd like to become your gift toyour Parish church or the Diocese, but for now you need the income it provides. One possibility, of course, is to leave it as a bequest after your death. But there is another option: with a charitable remainder trust, you can make your gift now and continue to receive the income for your lifetime, the joint lives of yourself and your spouse, or a specified term of years. Unlike a future bequest, which yields no immediate tax benefit, the charitable remainder trust provides you with a donation receipt in the year of your gift. Also, placing the property in trust frees you from management responsibility and removes the property from your estate, guaranteeing your privacy. Funding your trust with appreciated property The assets you use to fund your charitable remainder trust may include securities and real estate, and often these will have increased in value during your ownership. When you transfer property that has appreciated in value and you are the income beneficiary, you will be taxed on 50 percent of the gain attributable to the charitable remainder. Sheldon M., age 70, wants to establish an endowed fund with the Diocese of Ottawa in memory of his deceased wife, but he is reluctant to give up any of his investment income. He transfers property worth $250,000 to a charitable remainder trust from which his net income will be approximately $15,000 a year for life. If he funds his trust with $250,000 worth of listed stock for which he paid $100,000 some years ago the total gain on the stock is $150,000. The computed present value of the charitable remainder is $120,675, or 48.27% of the entire $250,000 trust. Therefore, he recognizes $72,405 of gain (48.27% of $150,000), and $36,202 (50% of $72,405) is taxable. Although the tax on this would be $18,101, he has a tax credit of $54,304 from the donation receipt. Thus, he offsets the tax on the gain and realizes net tax savings of $36,203. No matter how much taxable gain is attributable to the charitable remainder of your trust, the tax credit resulting from your donation receipt will always exceed the tax on the gain, unless you have named someone other than yourself as income beneficiary. This is true even though the capital gain is taxable, because the amount of the donation receipt you can claim for credit is now 100 percent of the taxable gain arising from the gift plus 75 percent of your other income. Giving your personal residence You love the old house, but it's simply too big for your present needs. If you move to smaller quarters and donate the house to fund your trust, you will recognize no capital gain whatever, no matter how much it has appreciated in value. The trustee will sell the house and invest the full proceeds to earn new income for you, and at your death or the expiration of your trust, General Synod of The Anglican Church of Canada will receive a significant and very welcome gift. Elise C., age 72, owns a home valued at $200,000. She wants to continue living in it for many years to come, but she would like the Diocese of Ottawa to have it at the end of her life. She decides to give the home to the Diocese of Ottawa now, retaining a life interest for herself. She receives a donation receipt for $85,421 which, assuming a 48-percent combined tax credit, will reduce her income taxes by $41,002 over the next five years. (The portion of the donation receipt that she may claim in any given year is limited to 75 percent of her income, but she has the gift year and five additional years to use the full amount.) Because Elises house is her principal residence, she realizes no taxable gain at the time of the transfer, no matter how much its value has increased since she acquired it. During her continued occupancy, she will be responsible for maintenance and such other expenses as are specified in her gift agreement with the Diocese. If it becomes necessary for her to give up the house sometime before her death, she has several options. She may rent the house and retain the rental income, give her life interest to the Diocese and receive an additional donation receipt, or, by agreement with the Diocese, sell the house and receive a share of the proceeds based on the value of her life interest. The tax benefits The donation receipt Sheldon or Elsie will receive represents the present value of the future gift (the charitable remainder) whichDiocese of Ottawa will receive at death. It is an actuarially computed figure based on the amount contributed, the age of the donor, and an appropriate discount rate (the lower the rate, the larger the donation receipt). The amount of the donation, which may be claimed in any given year, is limited to 75 percent of the donors net income for that year, but the excess may be carried forward up to five years beyond the year of the gift. If the income of either were $100,000, one additional year would be needed to achieve maximum tax savings. For more information, please contact: The Reverend Richard G. Vroom, Diocese of Ottawa Gift Planning Consultant, 71 Bronson Avenue Ottawa, Ontario, K1R 8G6 You may also contact Richard directly: Email:  HYPERLINK "mailto:richard-vroom@ottawa.anglican.ca" richard-vroom@ottawa.anglican.ca Voicemail: 613-233-6271 ext 239 (office) 613-884-1215 (cell)     PAGE  PAGE 4 .89;<=b}߼{n^UH?hRX-5CJaJhRX-5CJOJQJaJhRX-5OJQJh"[hRX-5CJOJQJaJhRX-5CJOJQJaJjh~[hRX-OJQJUhRX-OJQJhNhRX-5CJOJQJaJh5CJOJQJaJhRX-5CJOJQJaJh{bhRX-OJQJh7CJ$OJQJaJ$hL)CJ$OJQJaJ$h{bhRX-CJ$OJQJaJ$hRX-hRX-5CJ(OJQJaJ( +<=`b}~ : g gdgdgdzgdzgdRX- gdRX- $ a$gdRX-Z    : g ce e-ҵҧzn`nOn hAqhCJOJQJ^JaJh0JCJOJQJaJhCJOJQJaJ h phCJOJQJ^JaJh0JCJOJQJaJhz0JCJOJQJaJhd.0JCJOJQJaJ hAqhzCJOJQJ^JaJhCJOJQJaJhzCJOJQJaJ h phzCJOJQJ^JaJ h phCJOJQJ^JaJf-2M_xy1Z\]_`bcefo &`#$gdRX- ^gdRX-gdgd@J1FZ[]^`acdfgmnoqôôzkc_c_c_c_UOUOKh h0Jjh0JUhq&jhq&Uhh]LCJOJQJaJ hhRX-0JCJOJQJaJ+j9hhRX-CJOJQJUaJ%jhhRX-CJOJQJUaJhhRX-CJOJQJaJhCJOJQJaJh]LhRX-CJOJQJaJ hhCJOJQJ^JaJ hhCJOJQJ^JaJopq|}~ ^gdRX- &`#$gdRX-h]hgd pqrxyz{|~hhRX-CJOJQJaJhq&hhG80JmHnHu h0Jjh0JU ? 001h0P:p /!e"e#$e% 9Dd  0  # Ab 9 #4tqJ8Dn8 #4tqJPNG  IHDR_71ksRGB8IDATx^O\ɝ3òT(֩,fMhcl=8҂*abbLfa|s.muc* 0Y'yZI% sURUeՋ|C[#/_D[\ `Xjf @@@Ul@UmҤ-@*sMM@Ue@IUI @6 6i T9@&T&Mڂ 2 $ڤI[PU PU4i  `j&mA@Ul@UmҤ-@*sMM@Ue@IUI @6 6i T9@&T&Mڂ 2 $>>>mA`ll|ښVWNwӟlٸ2JC{O>O'{+Gn'J LY1ݸvf"{j=p"%Ft5vtc?\(*&d =[ߝHw>rT `wN+}wuytA%Fhh{"'`?4s2~^Ooyң/~Vv$:Yf=޾{?=owvvڪ8M P՚xlI`), hgdfF)x&z[wy1HJt9Ⱥ.ZҐSr7E~bSRO}U%] +/.DOX5z:e.U$ukÜkX"5M ڠX^ƿwTzVJ o-Lj 6$P&3o|?Gv![pA RĪ:&aHYkKK1OFZ 0h~"OM[oۭ/K￲]@<5fٴ,Əɪ u%-[' .k oO7nwL.Qn=3쁼TJuߝrX%;;&s/ ur=򝿾lujǩu[sD/%i*nӹoZ&[wlra1@UcNͧOF[$roUj)㗶&p~†=̃&?=<,,XZ.VjGwq꽮79<8?웵_LU zMW֜+ZbՂ|rȶ)#?oޯ%^udӟ?vPR}D᷿&?U;ZI1,U?2 ;:jŦ-Ϋ.ǻ..ݚI<V3(U<&U} WX5_^m1/CUnWoCdCUƕ_1`BO?ٿc1DxIpCU `jfMŪh0 9z2QeU_ʼa'z>u`8!:`juxwqs#$j6Ґ ?h{ߡJT/P뚪Uͷ8:Ԍ̹_T5gM$$6XʫꕻN)NPU=,8N%U^Dw#ðBU1F2x WCUMc&7JT59ޫIYF,>$V]'VK:CU-i:^M Uwv}"\@U]PHNǪcd6޹@UK9٫ôs^UYdTOՙ\pDUu6f[Í;KsF}ƪ"=BQwvf12T5 7oa +"J> ںFJͿD(u>V WvvvƏG/d Z/nIݾؚt$;$OeT9K+"*~*P*GԝIl͍VmRU.Uh޽}_2~_N-\y3QD+KvNCOqZZ{fo~nw;[[TXu#J%ւ7@jvz3Տʂ(֮U+7 N%m_+}n蝧XTBUK$=Ԛx_FyU?2cT#r[AI̗`P8JQQ >V=rU'̘T5_:D2U3f/G 7T5n::+f q<+:ƕ=T5{;1P[ Yd qb7Bz"߱j"@lbo GjW=oWaKIz% .7A>T>Z4UW1_㑒݄AA')y]fݰAz"zլSfơ9ԓ9y!UWZiLUm bVjs\Qr}rMlPռ:XR^E!A*֕ kL:UW' AU A=> bU FyUV@UuĪ򪺐jo__޹?Jj.s';P}BX fPՈȫFvoZʫRT)pبjN`*F^^0g׉AJ^5;cPUfHUP2eٶ*}H{ݮ*yϨCUs?[ bUBOQ@UpCr 77YudZʫRT5k:3^zUgΤaPU@ i V%ZȜS*suLP2lJXR^zU>=WPUWdn^zռgTN֡9yӟ-*yUn(Q!AWMe T:2U-UWjem {?J3gҰee4gW-dN`)TPy:x j~mAj)JmҞ++y?Jj3*'P5ݟ堵:+bWߝ*HUu;ޠ~;^ uɿrU 4VyJH F!ml:~nGSX'T~T:f?duoxb#-cEY4|prywnl~mzo16(ɵl2ʇvw~bh_-3UĖ U.˥S_\fڈ#U=6 |J}$%Z}垼?-LO[}%[s+ hOQm i6zzc9=W5*՗|N7NU3Sy@U|ēojbzn>PwJ7B^Ǫ*VsD+>m+mǏWD6[DC(o65(~J/Me^Ǫ yՊmm:U+&gR<Eɲc Zp4~D~LqkmiX^[-zdoIy~U*=,3oܿ|r%MQRU JVw؂?\Ae{\w&e4% >xspoA0LU%*JR;RXGVpY'@u)5~eޟڸRk]f$R}R¨d".no'J?/v/. bjJ+^VDWH])ԃpEU\@l-wGy .2Mnk^UyS $J}nHV?Tup_ ZwEuûN;*qX}2O?U2 WifhTmc9\"R4`idtݯLiYMJFUOew:\}35} bʱU_5~_EDXR+*>mUubjYH/LV!U_5s7e+?ooRӲ*E[ GTU߫ϐK X)K'k*%d^:o=VIoi *V|Š3L[-vU2:" +|O%P[j,D_k[ǥ=OfUz!p։ȘDnOX9{H>*5L;Ŷlܪbau%2zAm,׫ʯ~]C3\*Gƫ|b ι3 U=! |DgtqTU_Il2wEMx'Y٤*)Փ}ⅵdh`vXTUH(I]r6&D hz@461{*hca˒P {?/Wo7uR*_Ѻ-IIXEK^5IF?hY r$q$dTu'aD Wmrydyn u5}eȫVmț+]֦+Vu5Z;bG?d aUQCuon7s'5yI\ĭ^V.\*)h0m'Tp.Au ȆȍJ}Jl*Moeq; GyN~},|5P/_meGѠC/G hLH[,<>7iƳ Vo Znjl<@5}u?oND 1Y e&/=T Ȝ ;r4vť-7҇ ֨]%ф2!pCȼ|ޗ01M^R@}ən}#TzWꛛ$0,}K|U?Xo#-\;)o-Odd+pAzE'Q_\Y O`y w4Rlwf"@j$#l}p, jhUxb"pl$ď! *(0bC}lv< V v~+mi j1%4B^/{Q2z? 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