Planned Giving: Charitable Trusts

A charitable remainder trust is an arrangement under which you deed property to the World Bible Society, but retain the use of it for life or a set number of years.

There are several varieties:

Gift of Residual Interest
A residual interest gift refers to an arrangement under which property is deeded to the World Bible Society, but the donor retains use of the property for life or a term of years.

For example, a donor might give a residual interest in a principal residence and continue living there, or a residual interest in a painting and retain possession of it. The donor is entitled to a tax receipt from the Bible Society for the present value of the residual interest. "Present value" means that the property is appraised by an accredited professional appraiser, taking into account the age of the donor. The appraised value is the amount allowed as a tax receipt.

The donor will continue to be responsible for real estate taxes, insurance, utilities and maintenance after transferring the title to the property. The terms of the gift and responsibilities for expense are specified in a deed of gift.

		Did You Know
	By planning an investment gift to WBS, you are making a promise for the future -- a promise that ensures the Society will have sufficient funds for our future ministry. Many individuals would be happy to see their current income and assets being used to help others receive the Treasures of God’s Word during their lifetime.