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Is Social Security Going To Run Out In Your Lifetime?

We get regular updates on the Social Security trust fund. In early May, the Social ...

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Thriving on the Uncertainties In Investments

We all like surprises, right? Well not exactly. We like the surprises that we want. ...

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9 Facts About Retirement

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What Is the Purpose of a Charitable Trust?

December 21, 2021

In discussing and researching options for your own estate planning, you may come across multiple options and strategies that can help you accomplish your goals. This can be further cemented by talking with a knowledgeable estate planning lawyer about your next steps, and you might hear the term charitable trust as part of this planning process.

At its most basic level, a charitable trust holds assets inside and distributes them to charities. How the assets will be managed and invest will depend on what you have specified in the trust. You can also use the terms of the trust to determine how it will make donations. Tax advantages are available to those creating a charitable trust but other forms of trust management may be more appropriate for you based on the individual goals you intend to accomplish.

One of the biggest reasons to use a charitable trust is to establish a long term plan for charitable giving. When you establish a charitable trust for these purposes, you can continue to make gifts over a long period. The trust is completely separate from you when established for charity. Any assets held inside the trust are owned by the trust and the trust requires management and pays taxes just as any other legally recognized entity would. To ensure this is the right fit for your estate planning strategy, schedule a time to speak with a lawyer.

 


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Recent Posts
Is Social Security Going To Run Out In Your Lifetime?

We get regular updates on the Social Security trust fund. In early May, the Social ...

The post Is Social Security Going To Run Out In Your Lifetime? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Thriving on the Uncertainties In Investments

We all like surprises, right? Well not exactly. We like the surprises that we want. ...

The post Thriving on the Uncertainties In Investments first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and ...

The post 9 Facts About Retirement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more