Charitable Remainder Trust

Eliminate Potential Taxes and Enjoy Reliable Payments

A charitable remainder trust is a special kind of irrevocable trust funded with cash or appreciated assets. The trust makes regular payments to you for life or, if you prefer, for a fixed term up to 20 years. You may also choose for others to receive payments, such as your spouse, children, or grandchildren. At the end of the trust term, the remaining amount in the trust is available for the Center's use. With this type of gift you can:

  • Potentially increase your income stream from low-yield assets you use to fund the trust.
  • Receive a federal income tax charitable deduction for a portion of your gift's value, depending on your tax situation.
  • Pay no up-front capital gains tax when you give appreciated assets to the trust.
  • Potentially enjoy other tax benefits, depending on how the trust assets are invested.
  • Provide long-term support for cancer research and care.
  • Enjoy membership and special benefits as part of the Cullum Society.

 

Options to Consider
People of varying ages and financial situations can benefit from a charitable remainder trust thanks to its two versions.

  1. Charitable Remainder Unitrust. This is the most popular form of charitable remainder trust. It pays you, each year, a variable amount based on a set percentage of the value of the trust assets, recalculated annually. Use our interactive tool to calculate your potential benefits.
  2. Charitable Remainder Annuity Trust. A less common choice, this type of trust pays you, year after year, a fixed dollar amount you select at the outset. The payments are fixed, based on the starting valuation. Use our interactive tool to calculate your potential benefits.

 

Guidelines

  • Charitable remainder trusts typically make most financial sense when funded with a large contribution, such as $250,000 or more.
  • Your payments are based on a percentage of the trust's value. The percentage must be at least 5 percent. The trust payout is determined in consultation with the trustee you select to manage your charitable remainder trust.

Get Your Guide

Feel secure about giving back with a gift in your trust.

View my guide

Next Steps

  1. Request a personal trust illustration or additional information from our Office of Planned Giving staff. Toll free: 800-688-1827
    E-mail: plannedgiving@mskcc.org
  2. Seek the counsel of your financial or legal advisor to assist you in planning and creating a charitable remainder trust.
  3. Select a trustee to manage and invest your charitable remainder trust. This may be an institutional trustee, such as a bank, or it may be an individual you select to manage your trust.
  4. Please use our legal name, address, and Federal Tax ID if incorporating the Center into your plans:

Legal Name

Memorial Sloan Kettering Cancer Center
1275 York Avenue, New York, NY 10065

Federal Tax ID #

13-1924236

Contact Us

Our staff is available to help, in confidence and without obligation.

Toll free: 800-688-1827
E-mail: plannedgiving@mskcc.org

If you have included MSK in your estate plans, please let us know.