Charitable Trusts and Estate Planning

| McNees Wallace & Nurick reports that there are several ways that clients can incorporate their desire to benefit charities into an estate plan.

At the most basic level, the Code generally provides for a federal estate tax charitable deduction for amounts passing to charities at death. However, one particularly powerful method of charitable giving is the incorporation of charitable trusts into an estate plan. Charitable trusts, also known as “split interest” trusts because they have both non-charitable and charitable beneficiaries, create a unique opportunity to ensure the financial stability of a client’s surviving spouse or family while also entitling the client’s estate to a charitable deduction. While there are many legitimate and useful reasons to create a charitable trust during life, this article will focus on the funding and use of charitable trusts at death.

To read more, see Charitable Trusts and Estate Planning | McNees Wallace & Nurick LLC – JDSupra.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

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