How to: Charitable remainder trusts

How to establish a Charitable Remainder Trust

  1. Consult your attorney to draft a trust document.  

  2. The trust should name TMI as the “remainder beneficiary” (that is, the charity that will benefit from the trust when it terminates).

  3. Once the trust is drafted and the terms are clear to all parties, you transfer whatever asset you wish to use to fund the trust (cash, securities, real estate) into the trust.  Your attorney can help to ensure that this transfer is completed satisfactorily.

  4. You receive a charitable income tax deduction for a percentage of the value of the assets transferred.  TMI can provide the calculations for you and your tax advisors.

  5. For the entire trust term (your lifetime, the lives of one or more individuals, or a term of years not to exceed twenty), whomever you name as beneficiary (including yourself) will receive a regular income as determined by the trust document.

  6. If you are the trustee, you can invest assets completely without capital gains tax.

  7. At the end of the trust term, the principal of the trust will be available to TMI for whatever purpose you and TMI agree.

Have Questions?

For more information on ways to give to TMI or to find out how you can submit your gift to TMI, please contact our Advancement Department, at advancement@tmi-sa.org.

Please remember that when making a financial decision, you should always seek the opinion of your professional tax adviser or legal counsel.
 

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MISSION: TMI provides an exceptional education with values based on the teachings of Jesus Christ that challenge motivated students to develop their full potential in service and leadership.

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TMI Episcopal admits students of any race, color, national and ethnic origin, sex, religion, and physical ability to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. The school does not discriminate on the basis of race, color, national and ethnic origin, sex, religion, and physical ability in administration of its educational policies, admissions policies, scholarship and financial aid programs, and athletic and other school-administered programs.
TMI Episcopal
20955 W. Tejas Trail
San Antonio TX 78257
phone (210) 698-7171
fax (210) 698-0715