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Charitable Trusts

Charitable gifting can be a valuable tool for estate and tax planning.

You should consider the creation of a charitable trust when the following circumstances exist:

• Own highly appreciated securities and have adequate wealth for your family's needs and support.
• Desire to increase your income stream from low income producing assets.
• Desire to make use of the income from assets that will later pass to family.
• Wish to reduce the potential taxes on your estate.
• Wish to reduce potential income taxes.

A couple of the more popular charitable trusts are:

• Charitable Remainder Trust: This is a trust you create during your lifetime that pays you an income stream; then, upon your death, the balance pays over to the charitable organizations you designate. A charitable remainder unitrust allows for annual valuations that increase your cash flow as the trust grows and helps keep up with inflation.
• Charitable Lead Trust: During your lifetime, this trust provides an income stream to the charitable organizations you designate and upon your death the assets pass to the named beneficiary in your trust. That way the charitable organizations benefit from the income they receive and at death, there may be favorable tax benefits for your estate.

It is important to review such plans carefully with your tax advisor as each individual's tax situation may differ and legal changes occur periodically.