Charitable Remainder Trust Template

This Charitable Remainder Trust is made on [Date] by and between:

Settlor / Grantor: [Full Name]
Address: [Address]

Initial Trustee: [Full Name / Company Name]
Address: [Address]

Income Beneficiary: [Full Name]
Address: [Address]

Charitable Remainder Beneficiary: [Full Legal Name of Charity or Charities]
Address: [Address]

1. Trust Name and Creation

The Settlor creates this trust under the name:

[Name of Trust]

This trust is created as a charitable remainder trust and shall be administered according to the terms stated in this document.

2. Trust Type

This trust shall be administered as:

☐ Charitable Remainder Annuity Trust
☐ Charitable Remainder Unitrust
☐ other charitable remainder structure described as follows: [Describe]

3. Purpose of Trust

The purpose of this trust is to hold and manage trust property, make payments to the income beneficiary or beneficiaries during the trust term, and distribute the remaining trust property to the charitable remainder beneficiary or beneficiaries when the trust ends.

4. Trust Property

The Settlor transfers to the Trustee the following trust property:

[Cash]
[Securities]
[Real property]
[Business interest]
[Other contributed assets]

Additional description of trust property:

[Insert details]

5. Income Beneficiary

The following person or persons shall receive the income interest under this trust:

Beneficiary Name: [Full Name]
Date of Birth: [Date of Birth]

If there is more than one income beneficiary, list them here:

[Insert names]

6. Payment Terms

The Trustee shall make distributions to the income beneficiary or beneficiaries as follows:

If this is an annuity trust:

Annuity Amount: [$Amount] per year
Payment Frequency: [Annual / Quarterly / Monthly / Other]

If this is a unitrust:

Unitrust Percentage: [Percentage]% of the annual fair market value of trust assets
Valuation Date or Method: [Describe]

Additional payout terms, if any:

[Insert details]

7. Trust Term

The payment term of this trust shall continue for:

☐ the lifetime of the income beneficiary
☐ the joint lifetimes of the income beneficiaries
☐ a term of [Number] years
☐ other: [Describe]

The trust shall end at the close of the applicable term unless ended earlier under this document or applicable law.

8. Trustee Powers and Duties

The Trustee shall manage the trust property and may take reasonable action to protect, invest, reinvest, hold, sell, exchange, lease, distribute, or otherwise administer trust assets in a prudent manner and according to the purpose of this trust.

The Trustee may:

[retain professional advisers]
[obtain appraisals or valuations]
[open bank or brokerage accounts]
[buy or sell trust assets]
[make tax and administrative decisions]
[maintain books and records]
[exercise other lawful trustee powers consistent with this trust]

9. Administration of Payments

The Trustee shall calculate and make trust payments according to the trust type selected above.

Payment details:

☐ payments made directly to beneficiary
☐ payments divided among multiple beneficiaries as follows: [Describe]
☐ prorated first-year payment method: [Describe]
☐ other: [Describe]

10. Charitable Remainder Beneficiary

At the end of the trust term, the remaining trust property shall be distributed to:

[Full Legal Name of Charity]

If more than one charitable beneficiary is intended, the remainder shall be distributed as follows:

[Name of Charity and percentage or share]

If a named charity no longer exists or cannot take, the remainder shall be distributed as follows:

[Insert alternate charity terms]

11. Successor Trustee

If the Initial Trustee dies, resigns, becomes unable to serve, or is removed, the following person or entity shall serve as Successor Trustee:

[Successor Trustee Full Name / Company Name]

If that person or entity cannot serve, the next Successor Trustee shall be:

[Alternate Successor Trustee Full Name / Company Name]

12. Trustee Compensation and Expenses

The Trustee shall be:

☐ entitled to reasonable compensation
☐ not entitled to compensation except reimbursement of expenses
☐ compensated as follows: [Describe]

The Trustee shall be reimbursed for reasonable expenses properly incurred in administering the trust.

13. Records, Statements, and Tax Reporting

The Trustee shall keep reasonable books and records of trust property, income, expenses, valuations, and distributions.

The Trustee shall provide reports or accountings:

☐ annually
☐ upon reasonable written request
☐ to the following person or persons: [Name(s)]
☐ as otherwise required by law

14. Restrictions and Special Terms

Special terms regarding contributed property, sale of assets, investment standards, payment handling, or charitable distribution:

[Insert details]

15. Irrevocable Nature of Trust

This trust is intended to be irrevocable except to the extent a limited power, correction, or modification right is expressly stated here:

[Insert details or write “None”]

16. Governing Law

This trust shall be governed by the laws of the state of [State].

17. Signatures

Settlor / Grantor Signature: __________________________
Name: [Full Name]
Date: [Date]

Trustee Signature: __________________________
Name: [Full Name]
Date: [Date]

Additional Trustee Signature, if needed: __________________________
Name: [Full Name]
Date: [Date]

18. Notary Acknowledgment

State of [State]
County of [County]

On this [Day] of [Month], [Year], before me, the undersigned notary public, personally appeared [Name of Signer(s)], known to me or satisfactorily proven to be the person(s) whose name(s) are subscribed to this instrument, and acknowledged that they executed the same for the purposes stated herein.

Notary Public Signature: __________________________
Name: [Notary Name]
My Commission Expires: [Date]