Charitable Remainder Trust | Canada
Prepare a charitable remainder trust with this downloadable template for Canadian residents.
- A charitable remainder trust allows the donor to retain a life interest in property transferred into the trust but makes an irrevocable gift of the residual interest to a registered charity. The charity then issues a donation receipt for the fair market value of the residual interest in the property at the time that the residual interest vests in the charity.
- The tax credit can be carried forward in whole or in part for up to five years.
- All capital gains are allocated to the capital beneficiary, i.e. the charity, which is tax-exempt.
- The net income of the trust is paid to the income beneficiary (the settlor and their spouse, and/or whoever else the settlor may designate in the trust).
- Trust expenses are paid from the trust income.
- This is an irrevocable trust.
- The template is available in MS Word format and is fully customizable.
- Governed by Canadian tax laws and intended to be used only in Canada.
Last Updated: 17-May-2023