Investment Insights

Charitable Remainder Unitrusts – A Real Life Example of FLI Putting Our Own Advice into Action

July 13th, 2017


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Bruce A. Siegel, Executive Vice President and General Counsel at First Long Island Investors, works with clients to develop strategies that enable their estates to be structured in ways that will meet their investment, philanthropic, and legacy goals.  He recently took his own advice in support of the Diabetes Research Institute Foundation.  Bruce and his wife, Rachel, have been supporters of the Diabetes Research Institute and other diabetes causes since their daughter Sara was diagnosed with diabetes nearly twenty-eight years ago.  Bruce established a Charitable Remainder Unitrust (CRUT) to benefit DRIF.  “I have recommended CRUTs to clients, and thought ‘Hey, this would make sense for me!’  I get the diversification I want without having to pay a substantial tax today, and DRIF receives the assets remaining in the CRUT after my wife and I are no longer here.  On top of that, we get a tax deduction, too” Bruce explained when recently interviewed by DRIF.

Charitable Remainder Unitrusts have many benefits including:

  • Income for life which is often greater than the yield of the contributed assets
  • A considerable tax deduction
  • Avoid paying capital gains tax on long-term appreciated securities
  • Make a significant gift to the charity of your choice

To read the complete interview and learn more about CRUTs, please click here