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  • 1.  What happens when an annuitant dies?

    Posted 09-10-2025 01:59 PM

    Hello. I need a gut check on this one. 

    We have an annuitant who passed away last month. The Charitable Remainder Unitrust was given to the University in 2000. Question for the planned giving experts - What does the University need to do? Is there paperwork that needs to be completed? 

    Thank you,

    Tracy



    ------------------------------
    Tracy Forkin
    Johnson & Wales University
    tracy.forkin@jwu.edu
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  • 2.  RE: What happens when an annuitant dies?

    Posted 09-10-2025 02:47 PM
    Alot depends on whether you are the trustee for the CRUT or if it's held by a third party. But generally speaking:
    1. Confirm the death - obtain a copy of the death certificate.
    2. Coordinate with the trustee (if that's not you).
    3. Stop distributions.
    4. Trustee performs a final accounting (Form 1041 and any K-1s issued).
    5. Obtain a valuation as of the date of death.
    6. If you are not the trustee, coordinate with the trustee for a transfer of the assets.
    7. Upon receipt of the assets, send a receipt to the trustee and the donor's estate.

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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