¹For CRUTs holding substantial stocks during the current bear market, distributions have decreased as the underlying stock values have decreased.

²Many companies’ stocks have faced this reality in the current bear market.

³For example, the Vanguard Total Stock Market Index made dividend distributions of 1.16% in 1998, 0.98% in 1999 and 1.12% in 2000.

⁴For details on the calculation method, see “Case Study: Computing the Charitable Income Tax Deduction for a Single-Life CRAT,” 32 The Tax Adviser 490 (July 2001).