Chuck and Nancy Trudeau are eager to tell others about the benefits of using real estate to fund a charitable remainder trust to benefit City of Hope! These generous retired educators want everyone to know about these gifts: “It’s been such a wonderful way to give back. We have discussed our gift with friends and neighbors and now our accountant and financial advisor are both going to talk about this with their other clients!”
Chuck says, “We retired from teaching nine years ago — Nancy was an elementary school teacher, and I was a high school teacher and principal. We were looking for ways to make our lives simpler. Getting rid of our responsibilities as landlords for 40 years was part of it.”
Coincidentally, a friend and fellow City of Hope supporter shared an article about gifting real estate to fund a charitable remainder trust (CRT). Intrigued, Chuck called his accountant and financial advisor. After researching the benefits, their advisors agreed with the Trudeaus that a CRT could address both their financial needs as well as their wish to support City of Hope.
“We wanted to do some good in the future while receiving a steady cash flow for the rest of our lives.” The experience was so positive that they have donated a second property. Nancy shares, “We looked at the numbers with our CPA and with the income from the CRT and the tax benefits, we’re coming out ahead financially — and no more calls about a broken hot water heater in the middle of the night!”
While the Trudeaus made modest salaries as teachers, they were fortunate to have good financial advice, along with property that significantly appreciated in value and are grateful to share that good fortune now.
Their experience in making the gift was smooth — “City of Hope did so much of the work, and we were able to designate our gift to a program that is very meaningful to us — pediatric cancer research.”
Cancer has touched both Nancy and Chuck’s lives. Nancy’s parents and grandparents each developed cancer at early ages (“Back then, you couldn’t even say the word “cancer” — we called it “The Big C”). Chuck’s father and three grandparents died of cancer as well.
The Trudeaus believe that investing in City of Hope by establishing a CRT is the best way to help eradicate cancer. “Treatment has come a long way, but we’re not there yet. We must find a cure and City of Hope is our best chance.”