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Financial Planning Information
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Introduction to Wills
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What is so special about a NIMCRUT?

With a NIMCRUT, income can be deferred to later years. This allows the trustee to distribute income to the trust maker when the maker needs the income. This deferred income can grow inside the NIMCRUT income tax-free. In order to accomplish this deferral, the trustee must invest in assets which do not generate income that is distributable to the maker. Amounts not paid out currently are owed to the maker. When the NIMCRUT generates income, it must pay back the amounts it owes the maker.
Financial Planning FAQs
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Related Questions & Answers

- Are there disadvantages to a NIMCRUT?

- Can I name a "community foundation" as a charitable beneficiary?

- Can I use a Charitable Remainder Trust to remove retained earnings from my corporation without adverse tax consequences?

- Can S corporation stock be given to a Charitable Remainder Trust?

- Can a Charitable Remainder Trust have more than one trust maker?

- Can the trust maker retain the lifetime right to name different charities as principal beneficiaries?

- Can you explain the basic differences between a Charitable Remainder Unitrust and a Charitable Remainder Annuity Trust?

- How are income payments from a Charitable Remainder Trust structured and taxed to the income beneficiary?

- How can a Charitable Remainder Trust be established for different kinds of income beneficiaries?

- How do I decide which type of trust to use?

- How do I determine what kind of assets should not be given to my trust?

- How many income beneficiaries can a Charitable Remainder Trust have?

- I don't have any strong ties to any particular charitable organizations. How do I decide on a charitable beneficiary?

- If I have appreciated property such as real estate or stock, is there any way I can destroy the tax benefits due to me and my trust when my charitable remainder trustee sells the property?

- If I sell my business in which I have a very low tax basis, can I avoid the capital gain tax?

- It has been suggested that I should establish a "Charitable Remainder Trust" for the benefit of my favorite charities. Can you help me understand this process?

- Realistically, who is a candidate for a Charitable Remainder Trust?

- The Charitable Remainder Trust sounds good, but do I have to irrevocably give up my principal?

- What are the advantages of being my own trustee? Why shouldn't I let a bank take care of my trust during my lifetime?

- What are the advantages or disadvantages of my using a Charitable Remainder Trust versus giving the property outright to charity?

- What are the best kinds of property to give to a Charitable Remainder Trust

- What assets are most suitable?

- What happens if I die leaving income that was due to me in my charitable trust?

- What if there is a contract for sale on the property before it is given to the Charitable Remainder Trust?

- What is so special about a NIMCRUT?

- What types of investments are best purchased by my trustee inside of my Charitable Remainder Trust?

- Why do people create Charitable Remainder Trusts?

- Why is a term of years, rather than the lives of the income beneficiaries, used in a Charitable Remainder Trust?

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