Have you heard of a charitable remainder unitrust (CRUT)? A CRUT is a special type of tax-exempt trust that pays variable income to you and/or other beneficiaries for life (or a specified number of years, up to 20). When the trust term ends, the remaining balance is given to your favorite charity – like Duke – to be used for the purposes of your choosing. Benefits of a CRUT can include:

LIFETIME INCOME

You select the CRUT income beneficiaries – yourself, your spouse, a relative, and/or other loved ones – who will receive the income for life or for a number of years. This is a terrific option to supplement retirement income, or provide support for a family member. The income payments vary each year, based on trust value and investment performance.

TAX SAVINGS

When you establish a CRUT, you are eligible for an immediate income tax deduction for a portion of the gift’s value. You may also avoid capital gains tax liability when donating highly appreciated assets to a CRUT. Additionally, if the trust principal grows, your payment grows along with it, and this may provide a hedge against inflation.

Add to your CRUT at any time

You can make additional, tax-deductible contributions of cash or stock to the CRUT during your lifetime or through your estate. Additional gifts will increase the income received by the trust’s lifetime beneficiaries, and deepen your future charitable impact at Duke.

Invest alongside the Duke University endowment

If Duke is serving as trustee of your CRUT, you have the option of investing the assets in a way that mirrors Duke’s endowment investments, which are managed by DUMAC, Duke’s proprietary investment partner. This option – not commonly available to the individual investor – allows you to invest directly in the endowment assets.

MAKE A DIFFERENCE

Whether you are providing support for financial aid scholarships, cancer research, or faculty initiatives, your gift makes a difference! Your gift doesn’t just fund education – it can transform student lives, help unlock discoveries to improve health care, or create an endowment that will last for generations to come.

PARTNER WITH DUKE’S GIFT PLANNING TEAM!

Charitable plans may seem daunting — our team is happy to work with you and your advisors.

To quote Steve Feldman ’59, who established a CRUT at Duke:

“Working with Duke’s Office of Gift Planning has been both a personal pleasure and a financial benefit for us as donors. The professional competence they have provided and individual relationships we have established in the Office are both reasons we keep Duke at the top of our giving list.

We have set up charitable arrangements with several nonprofits and universities, and none can match your helpful guidance, responsiveness, reliable information and good communication. You guys are simply the best. We enjoy working with you, and appreciate your willingness to convey complicated (to us) tax information to our financial advisor and accountant.”

WANT TO LEARN MORE? Duke’s Office of Gift Planning can prepare a personalized gift illustration and work with you and your advisors to explore your options.

For more information on how to create a lasting legacy at Duke through a planned gift, please contact us at (919) 681-0464 or giftplanning@duke.edu. 

https://giving.duke.edu/gift-planning.

About the authors

Nan Futrell '07

gretchen.s.futrell@duke.edu

Nan helps alumni and friends of Duke explore tax-efficient ways to support key priorities they share in common with the University, often through retirement and estate planning. A North Carolina native and third generation Duke graduate, Nan joined the Office of Gift Planning after completing a two-year clerkship in the chambers of Chief Judge Linda McGee at the North Carolina Court of Appeals. She previously worked as a staff attorney at a non-profit in Washington, D.C., focusing on First Amendment church-state issues. Nan received her law degree from the University of North Carolina and her undergraduate degree from Duke, with majors in History and Religion and a certificate in Policy Journalism and Media Studies. She lives in Raleigh with her husband and their two sons.

Jane Lee Heuser

jane.heuser@duke.edu

As the Senior Director of Trusts and Estates, Jane manages the day-to-day administration of Duke’s charitable trust and gift annuity accounts.  Prior to joining Duke, Jane managed trusts and estates at a Durham law firm and served as Vice President with the Northern Trust Company in Chicago. Jane loves to travel, is an avid baker and keeps busy with her family and volunteer work.