25 May 2023

Episode 3 – Understanding Charitable Remainder Unitrusts (CRUTs)

Understanding Charitable Remainder Unitrusts (CRUTs)

In this episode of West Michigan Philanthropy, Miller Johnson Attorney John T. McFarland, and Carolyn Kley Fanning, with Hillsdale College, discuss the ins and outs of Charitable Remainder Unitrusts (CRUTs).  CRUTs provide taxpayers with the opportunity to bypass capital gains taxes, increase income, and obtain a charitable income tax deduction.  With higher Section 7520 rates, taxpayer donors are revisiting CRUTs as a way to reduce their tax burden, generate an income stream, and support their favorite charitable causes.


About Our Guests:

Carolyn Kley Fanning

Carolyn Kley Fanning is the President of Planned Giving Solutions, Inc., former Director of Gift and Estate Planning and a current Senior Gift and Estate Planning Counselor at Hillsdale College in Michigan.  She received her BBA and MBA degrees from the University of Michigan and holds an MA in Systematic Theology from the Christendom College Graduate School of Theology.  Her articles related to charitable gift planning have appeared in publications such as The Michigan CPA, State Policy Network News, Planned Giving Today, Successful Estate Planning Ideas and Methods, and The Tax Savings Reporter.  A certified public accountant, she is a member of the American Institute of Certified Public Accountants, the American Council on Gift Annuities, and the National Association of Gift Planners.  Although a proud Kentucky Colonel, Carolyn resides to the north near Cleveland, Ohio with her husband, son and very large boxer.


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