Property Ownership
A Vermont property owner who gives their property to a charity before death using a 'charitable remainder trust' retains which benefit?
AThe right to sell the property before death
BAn income stream from the property during their lifetime, with the remainder passing to the charity at death✓ Correct
CProperty tax exemption during their lifetime
DExemption from Vermont Property Transfer Tax
Explanation
A charitable remainder trust provides the donor with an income stream (annuity or unitrust distributions) during their lifetime. At the donor's death, the remaining trust assets (including real property) pass to the designated charity. The donor may also receive an income tax deduction for the charitable gift.
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