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Individuals may want to incorporate charitable trusts into plans

| Oct 19, 2018 | Trusts |

Many California residents want to find ways to give back during their lives. They may make donations during the year or volunteer or carry out a number of other actions to help the community or otherwise contribute. For some, the desire to create a legacy or continue to help may be so great that they want to arrange to continue the giving even after they are gone. Fortunately, charitable trusts may be able to help accomplish that.

There are various ways to make charitable contributions, and some organizations may have details on how to donate. When it comes to using estate planning to make those contributions later, individuals may want to explore charitable lead trusts or charitable remainder trusts. The type of trust that may suit a particular situation could depend on financial factors and the type of contributions a person wants to make.

It is also important to determine the organizations or causes that one wants to support. For those who have been giving for some time, they may already have ideas about how they want to distribute their funds. People who may not have fully explored their charitable options may want to give the idea close thought before deciding on a particular avenue.

Charitable trusts could help many California residents achieve their dreams of carrying on their philanthropy long after they are gone. Of course, setting up these funds can prove complicated, and like any part of the estate planning process, having the right help could make a substantial difference. Consulting with legal professionals regarding charitable giving as part of estate plans could prove beneficial.

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