CHARITABLE REMAINDER TRUSTS
A tax-exempt irrevocable trust designed to reduce the taxable income of individuals by first dispersing income to the beneficiaries of the trust for a specified period of time and then donating the remainder of the trust to the designated charities.
The idea of a charitable remainder trust is to reduce taxes. This is done by first donating assets into the trust and then having it pay the beneficiaries for a stated period of time. Once this time-frame expires, the remainder of the estate is transferred to the charities deemed as beneficiaries.
- Contact Honor Flight Chicago’s administrative office at 773-227-VETS (8387) for additional information on advance giving.
- Seek the advice of your financial or legal advisor.
- If you include Honor Flight Chicago in your plans, please use our legal name and federal tax ID.
Legal Name: Honor Flight Chicago
Address: 938 West Montana St., Chicago, IL 60614
Federal Tax ID Number: 26-1978570
The information on this website is not intended as legal or tax advice. Please consult an attorney or tax advisor for such advise.