The Charitable Remainder Annuity Trust is an irrevocable gift that
provides a specified fixed annual income for the donor or someone he or she
designates, for life or for a specific number of years up to twenty. When you
establish this trust, you select an annual payout rate, at a fixed dollar amount,
and choose a trustee. At the conclusion of the income payments, the principal
is distributed to the College.
Another option that provides Bard's friends with a lifetime income, yet
at a variable rate, is the Charitable Remainder Unitrust. This type of trust
pays an income to a percentage of the value of the principal. Upon creating
the trust, you designate the percentage and select a trustee. The trustee revalues
the principal each year to determine that year's income. You may make
additional contributions to the unitrust, and the investment strategy may vary
with your changing financial needs. Both the Charitable Remainder Annuity Trust
and the Charitable Remainder Unitrust can increase your capacity to give a
larger gift to Bard.
A Charitable Lead Trust is an irrevocable trust that designates
Bard College as the income beneficiary for a specified number of years or for a period measured
by the named person's life. Upon completion of that period, the trust
assets may revert to the donor or pass to persons designated to receive them.
In establishing a Charitable Lead Trust, you may choose a unitrust, which pays
an annual income equal to a percentage of the value of the principal, or an
annuity trust, which pays a fixed dollar amount. You select the percentage
or the fixed dollar amount when you create the trust.
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