Tag: charitable trust
What Are Benefits of Establishing a Charitable Trust?
Posted on October 4, 2024
When creating an estate plan, one attractive option to consider is the creation of a charitable trust. A charitable trust is not only a way to leave a legacy and contribute through one’s estate to meaningful causes but also an important tax management and money-saving vehicle for your family. An Illinois trusted advisor can help you consider whether this estate planning tool is right for your family’s future. What Is an Illinois Charitable Trust? A charitable trust is an element of an estate plan that gives the grantor an opportunity […]
What Role Do Trusts Play in Legacy Planning?
Posted on May 24, 2024
While planning for the future is essential for anyone, it can be especially important for people and families with a high net worth. Legacy planning can ensure that loved ones are taken care of and that a person’s assets will be distributed according to the person’s wishes, while also upholding the person’s values, promoting causes he or she believes in, and establishing a positive framework that a family can continue to follow. Trusts are a powerful tool in legacy planning, providing flexibility, control, and tax benefits that can help a […]
What Are the Tax Benefits of Charitable Trusts?
Posted on February 13, 2024
A charitable trust is a legal arrangement in which assets are transferred to the control of a trustee, and the income generated from those assets is then distributed to one or more charitable organizations. Charitable trusts offer several tax benefits for people and families who wish to support their favorite charitable causes, and they can also provide other financial advantages. An attorney who provides estate planning services for high-net-worth families can help determine the best charitable giving strategies while addressing other related legal and financial issues. Some benefits that charitable […]
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