Charitable Remainder Trust
Updated: 09 June 2023
What Does Charitable Remainder Trust Mean?
A charitable remainder trust (CRT) is a trust in which the beneficiaries receive income from it for a specific period of time. However, once that time runs out, the remaining assets of the trust are given to charity.
Like life in insurance, CRT's are used to reduce tax burdens.
Insuranceopedia Explains Charitable Remainder Trust
One positive feature of charitable remainder trusts is that they allow charities to get assets that they may otherwise never have access to. Since the beneficiaries also benefit from the trust for a period of time, a CRT is advantageous to all parties involved.
Related Definitions
Related Terms
Related Articles
Guidance for Nurses: Five Essential HIPAA Compliance Tips
Insuring Your Financial Future: the Crucial Role of Accounting in Insurance
The Future of Insurtech: How Technology is Transforming the Insurance Industry
Inside the Details of Auto Transport Insurance: An Expert Interview
Expert Insights: The Ins and Outs of Moving Insurance
Interview With Todd Taylor On Strategizing Large Group Health Insurance
Related Reading
What is a Participating Life Insurance Policy?
Limited Pay Life Policy
Indexed Universal Life Insurance
How Much Is a $100,000 Life Insurance Policy?
Which Type of Life Insurance Policy Generates Immediate Cash Value?
35-Year Term Life Insurance