There are two basic types of Charitable Remainder Trusts: unitrust and annuity which are both explained later in greater detail. Such trusts involve an irrevocable gift of unencumbered, long term, appreciated real estate, or other personal or real property to the Masonic Medical Research Laboratory (MMRL), generating a life- income for yourself and a beneficiary, as well as receiving income tax benefits. An added benefit is removal of the asset from an estate, which saves estate and gift taxes.