Paid - Donor makes payments to the insurance company or a contribution to the UNA Foundation of the amount of the premiums. These payments are deductible as a charitable contribution in the year they are paid. After that time, the property is distributed to the UNA Foundation.
Tax deduction is received the year gift is made and an estate tax charitable deduction later.
Charitable Remainder Unitrust Trust annually pays to a named beneficiary or beneficiaries a specified percentage of the fair market value of the trust's assets which are re-valued annually. Donor can make additional gifts to trust without setting up additional trust instruments. The donor cannot make additional contributions. The amount of the income tax charitable deduction is in large part dependent on the interest rate used by tax tables for the month in which the trust is created. At the end of the term, the property returns to donor or, more commonly, to donor's children or grandchildren.