Charitable Trusts

Leaving a Legacy for Your Favorite Causes

Charitable trusts name charities, as opposed to individuals, as beneficiaries.  If the trust complies with federal tax laws, the trustor will be allowed to deduct a percentage of the amount that the trustor gave to the charity as a current charitable income tax deduction.  While there are different types of charitable trusts, if a trustor wishes to make distributions to the charity during his or her lifetime, the trust must be classified as an irrevocable trust.

Charitable Trusts

Charitable trusts can be set up in a multitude of ways and often provide for an annuity or fixed amount to be paid to beneficiaries over a term of years with the remainder going to charity.

If you wish to leave your assets to charity, a charitable trust may be an excellent option.  Our attorneys can discuss the different types of charitable trusts and help you create a plan that coincides with your objectives.