Testamentary Charitable Remainder Unitrust: Have Your Cake and Eat it Too!

• Stephen: "We were really having a tough time determining how to best split our estate until we received a mailing from UVU's gift planning office. The brochure talked about testamentary charitable remainder unitrusts. It really sparked our interest."

The concept was new to them, but it offered a solution they hadn't considered.

• Karen: "I didn't realize there was a way we could stretch our assets to accomplish both goals, leaving an inheritance to our kids and making a substantial gift to UVU."

They decided to establish a testamentary charitable remainder unitrust, also known as a give it twice trust, as part of their estate plan. Their retirement accounts will be used to fund the trust after their lifetimes. The trust will provide steady annual payments to their son and daughter for 20 years. After that, the remaining trust balance will be transferred to UVU to support the UVU Student Emergency Fund.

• Stephen: "We're thrilled that we can use our retirement accounts during our lives, and that when we no longer need them, they'll continue to support our family for years and then help UVU carry out its mission."

What is a charitable remainder unitrust?

A charitable remainder unitrust is a trust that can be funded with your cash or other assets that provides you with income and tax benefits and supports the work of Utah Valley University with the remainder.

Is a testamentary charitable remainder unitrust right for you?

Retirement accounts, such as an IRA or 401(k), make great gifts to fund a testamentary charitable remainder unitrust. The trust will provide income to family while also benefiting a nonprofit organization, such as Utah Valley University. If you have questions about this gift option, please give us a call.

Please note: The information above is representative of a typical donor and may or may not be an actual donor to our organization. Since your unitrust benefits may be different, you may want to create an illustration of your benefits by using the calculator on this page.