You can create a charitable remainder annuity trust by irrevocably transferring cash, securities or property to a trust for the University of Kentucky Chandler Medical Center’s benefit. In exchange, you and/or your designated beneficiaries will receive a fixed dollar amount, at least annually, for life or for a fixed term up to 20 years (the latter known as a term certain annuity trust). At your death, the death of your beneficiaries or the end of the term, the trust terminates and the assets are transferred to the Medical Center.

Your income tax deduction depends on the age of your beneficiaries, the percentage to be paid out, and the fair market value of the gift. The payout is based on the value of the assets at the time the annuity trust is established, and it remains fixed for the term of the agreement. Generally, there is not tax on the gain on gifts of appreciated assets.

For more information about trusts, please contact a development officer or Dion Guest, gift planning officer, at (859) 257-7303.

Note: Please check with your financial advisor for details about which method of giving may best work for you.