An Example of How It Works

Woman happySusan, 65, wants to make a gift to Meals on Wheels but would also like more income in the future. Susan creates a charitable remainder unitrust with annual lifetime payments to her equal to 6 percent of the fair market value of the trust assets as revalued annually. She funds the trust with assets valued at $250,000.

Susan receives $15,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $97,613* in the year she creates and funds the trust. This deduction saves Susan $27,332 in her 28 percent tax bracket.

*Based on annual payments and a 1.6 percent charitable midterm federal rate. Deductions vary based on income earned.

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Next Steps

  1. Contact Paige Harris at 817.558.2840 or 972.351.9943 or paige@mowjec.org to talk about supporting Meals on Wheels by setting up a charitable remainder trust.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Meals on Wheels in your plans, please use our legal name and federal tax ID.

Legal Name: Meals on Wheels of Johnson and Ellis Counties
Address: Cleburne, Texas
Federal Tax ID Number: 75-1555153