Summary Policy

Date
October 25, 2002

Reference Number
CSP - C02

Key Words
Charitable remainder trust (gift of residual interest) - Planned giving

A charitable remainder trust involves transferring property into a trust whereby the donor retains a life interest in the property but makes an irrevocable gift of the residual interest to a registered charity. A registered charity can issue an official donation receipt for the fair market value of the residual interest in the property at the time that the residual interest vests in the charity.

• Planned Giving, CSP-P01.
• Charitable Remainder Trust, CIL-1999-004.
• Gift to a Charity of a Residual Interest in Real Property or an Equitable Interest in a Trust, IT-226.