Charitable Trusts
If you have charitable intent, one of the wonderful ways to support your charity and also your loved ones is with a split trust. With this type of planning, you establish an irrevocable trust. Someone gets income now, and someone else the remainder later. Your loved ones may be the beneficiary now, with the remainder of the trust assets going to your charity.  This is known as a charitable remainder trust. Alternatively, your charity may be a beneficiary now, with the remainder of your trust assets going to your loved ones.  This is known as a charitable lead trust. 

Charitable trusts are complex. As the grantor (the person who set the trust up), you may get income tax benefits, as well as estate and gift tax benefits. Our professionals counsel you on whether this type of planning would best meet your charitable intent.