#099: Understanding Charitable Remainder Trusts
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 19 November 2018
⏱️ 26 minutes
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Summary
CRUTS are Charitable Remainder Trusts.
Any time you are dealing with charitable planning, you must first have the charitable intent.
You can find some tax benefits that go along with that charitable intent, but you have to start with the charitable intention.
Ultimately, the charity is almost always going to benefit more than the donor.
For more information, visit the show notes at http://www.bigpictureretirement.net/099
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:12.9 | Hello, everyone. Welcome to the Big Picture Retirement Show. This is the podcast for anyone |
| 0:17.7 | who is planning for or living in retirement. I'm Devin Carroll, joined by John Ross. |
| 0:23.5 | Hey, John. |
| 0:24.0 | Howdy. |
| 0:28.2 | So, John, one of our best topics ever, and this is when we measure that by the number of downloads. |
| 0:37.4 | Okay. Came from the number of downloads. Okay. |
| 0:37.8 | Came from the feedback in our Facebook group. |
| 0:41.8 | Was someone asking us, hey, will you do an episode on this? |
| 0:45.4 | And so when we did that episode, it got more downloads than any of them, which made |
| 0:49.2 | us think we should start paying more attention. |
| 0:53.1 | Yes. |
| 0:53.9 | Maybe we should do what the people want. |
| 0:56.5 | That's right. |
| 0:57.4 | Instead of the topics we think are cool, maybe we should listen to them. |
| 1:01.7 | So, in the Facebook group, I'm going to put a post that's going to go live today. |
| 1:07.1 | And I want to see, I can't pin it because we have our rules pin to the top. But do we really need rules? I don't think we do. No, you know what? If we need them, we'll come back and pin them to the top. So far, everyone's been very orderly, civilized, and just nice. That's right. So we'll dispense with the rules, let those go down, and to the top of the feed in Facebook, I'm going to pin a topic request post. I like it. That's a good idea. And you can say, hey, this is what I'd like to hear about. We've had others requested, but you and I were going back through the Facebook feed trying to find something and it took us a while. So this way, at least it'll be pinned to the top. Someone at some point ask about preferred stocks. Someone ask about a pension and the different options and sorting |
| 1:49.3 | through some of that. Anyway, we'll just pin that to the top and see. And of course, if you're |
| 1:53.4 | not a member of the Facebook group, you're wrong. Yeah. You're just wrong. Pretty much. Because |
| 1:58.9 | the cost is not that bad. Right. It's very reasonable. So one of the requests that we did receive was to cover charitable remainder trust. Someone had received a letter from the college they attended and, you know, they were pretty much pitching her to give us money. We'll give you income. Right. That sort of thing. So I thought it would be a good idea. Here we are. End of the year. People's wondering, what am I going to do with all this money I've made? I've got to find some way to get rid of some of this. John, you have a couple of solutions, right? Ready to go, right? Yeah. So we'll talk about some charitable planning here, but I did want to open up with kind of one thing. |
| 2:35.5 | Anytime you're dealing with charitable planning, you've got to first have the charitable intent. |
... |
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