The
Role of a Charitable Remainder Trust Trustee
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Role of a Fiduciary The Role of an Executor The Role of a Charitable Remainder Trust Trustee The Role of a Conservator The Role of a Trustee Irrevocable Life Insurance Trust |
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Trustee of a charitable trust requires special expertise due to the
unique income requirements, special fiduciary rules related to income
and the remainder beneficiaries. There is a need to ensure the Trust
does not earn any unrelated business income in any calendar year.
The trustee determines the goals, objectives and investment management strategies of the trust. The assets must be reviewed to see if the trust can accept them. The charitable deductions need to be calculated for income tax purposes. The accounting for charitable trusts in unique since there are four different types of income a trust can generate. The trust needs to be evaluated annually to determine the income and the assets distributed to the charitable institutions after the death of the income beneficiaries.
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