Charitable Remainder Trusts 2017-06-16T14:37:13+00:00

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.

Next Steps

  1. Contact Honor Flight Chicago’s administrative office at 773-227-VETS (8387) for additional information on advance giving.
  2. Seek the advice of your financial or legal advisor.
  3. 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.

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