Cantonment, FL Estate Planning Law Firms & Lawyers

By what means do you own the property? Simply building a structure on a property does not give ownership rights unless there is some type of adverse possession. See a real estate or probate attorney to go over the facts and title.

Yes, a named charity who is a beneficiary of the CRT can be the trustee after your death. There are many additional issues that you may want to consider with regard to a charitable remainder trust. I suggest that you consider consulting with an estate planning attorney who is experienced with charitable remainder trusts to determine whether any of those additional issues that might be applicable to your circumstances. For instance, if you have highly appreciated assets, contributing those assets to a CRT during your lifetime can result in the trust having the ability to sell the highly appreciated assets without incurring capital gaines taxes on the gain, which leaves all of the asset value available to increase the amount of income you can receive from the CRT during your lifetime (and your spouse's lifetime if appropraite) compared to just selling the assets outright. In addition, you receive a charitable contribution deduction for the lifetime transfer to the CRT. You can be the trustee of the CRT during your lifetime so that you can manage the investments in the CRT. Then at the passing of you and your spouse, you can provide for a second level of income beneficiaries (up to 20 years), before the assets are turned over to the charities named in the trust. That is just one example of the benefits of a CRT. Good luck with your planning.