A Revocable Living Trust has a number of benefits; among those, it is an excellent charitable giving tool. When you have cared for the dependency needs of your family, you may wish to include charitable distribution instructions in your Revocable Living Trust. By so doing, you avoid probate costs and delays.
Here are 2 ways to accomplish charitable giving goals through your trust:
You can integrate your charitable gifts in your overall estate distribution plan. The trust that you use to make distribution to personal beneficiaries can also distribute a percentage of those assets to your charitable beneficiaries. This transfer can be at the time of death or can be delayed to a time when family members are no longer dependent.
Another option is to establish a separate trust to make a confidential transfer now, retaining the right to change your mind in the future. The trust can be flexible, paying income from the property to ministry while you retain the right to have the property returned in the event of unseen future needs.
Whether caring for the dependency needs of family or being prepared for unforeseen changes, a Revocable Living Trust may provide the flexibility you desire to meet your charitable giving goals.
How This Helps You
Consider using a Revocable Living Trust as a tool in your estate plan. We have prepared a special Guide to Revocable Living Trusts to help you understand its benefits. You can download your free copy using the button below without cost or obligation.