CHAritABLE REMAINDER TRUST
A common objection to any type of charitable giving is that it deprives family members of the value of the donated asset. The problem can be overcome by coupling a charitable remainder trust (CRT) with another type of trust utilizing life insurance.
In this scenario, you as the donor, establish a Charitable Remainder Trust with the assistance of a qualified financial planner, estate attorney or your certified public accountant. By using the tax savings produced by the charitable tax deduction or the life income stream generated by this trust, you establish a second trust (irrevocable life insurance trust) funded with a second-to-die life insurance policy. At the death of all trust income recipients, whatever remains in the CRT is distributed to Frankie’s Friends. The life insurance policy in the second trust arrangement is distributed to family members free of gift and estate taxes because of the rules governing this type of trust.
As a result, the donor receives all of the CRT benefits previously described, the children receive the value of the donated asset, and Frankie’s Friends receives a generous gift.
Please consult your insurance professional for more information.
With your help, we can help more pets like Whitepaw and Bella.
Frankie’s Friends helped Whitepaw receive life saving treatment for a urinary obstruction when his owner lost her job due to Covid-19.
“Due to the COVID-19 pandemic that we are facing, I lost my only stream of income. I spent the last bit of my savings to pay what I could. Because of you, my Whitepaw was able to receive the necessary treatment to get him all better and back home to our family. Words genuinely cannot express how thankful I am.” – Whitepaw’s Family
With the help of donors, Frankie’s Friends helped Bella receive the TPLO surgery she needed for a ruptured cranial cruciate ligament.
“I am a deputy in a local county’s Animal Control Division, I have dedicated my life to helping and serving animals and it had left me heartbroken and hopeless knowing I was in a position where I financially couldn’t help my own beloved pet. The funds provided for this surgery are literally saving her life. I will forever support and pay forward towards your foundation.”– Bella’s Family
Thank you for considering becoming a donor supporting Frankie’s Friends Planned Giving Program. Should you have any questions please contact Lisa Bricker, National Development Director, at:
lisa.bricker@frankiesfriends.com or by calling 888.465.PETS | 813.682.1346
or you can contact us using the form below.