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Charitable Remainder Annuity Trusts

 
Charitable Remainder Annuity Trusts (CRATs) are maintained as separate trusts within the Community Foundation, for which the Foundation serves as trustee. CRATs provide a fixed annual income for the beneficiary. Upon the death of the surviving beneficiary and the termination of the CRAT, the amount remaining in the CRAT becomes a Foundation asset and, depending on your stated preferences, may be added to an existing fund of the Foundation or, if sufficient in size, used to establish a new charitable fund at the Foundation.