There are many types of trusts you attorney can help you establish. Many people choose to establish a trust in order to shield their estate from the public scrutiny of probate and/or to resolve investment and custodial issues in the event of incapacitation. Trusts noted below are examples of trusts that may be used for charitable purposes and estate planning.
Revocable Living Trust
For some, a revocable living trust accompanies a will. For others, it is their primary estate planning document. Establishing a revocable living trust lets the donor title assets in the trust and serve as trustee while living and appoint a successor trustee. Often a living trust is accompanied by a power of attorney for healthcare and a living will. are not subject to probate.
Charitable Remainder Trust
If your attorney and you agree that charitable trust is appropriate for you, it can offer several advantages to you as the donor, while providing that the remainder goes to the Cancer Support Community. One advantage might be income for your lifetime or a period of years. other advantages can be income and estate tax deductions. A final advantage is allowing you as the donor to make am important gift to Cancer Support Community. There are several types of charitable remainder trusts. Your attorney will work with you to determine the best type of charitable trust for you as well as the appropriate funding assets.
Charitable Lead Trust
Particularly in the current low interest rate environment, a charitable lead trust may be a good choice for you to remove an asset from your estate and direct that the end of the "lead" period that asset is transferred to an heir. During the "lead" period the trust establishes, the income the trust assets produce go the the Cancer Support Community. For example, if a donor funds a charitable lead trust with an apartment building for a period of ten years, during the ten-year lead period, the rents from the apartment building would go to the Cancer Support Community. At the end of the ten-year period, depending upon how the donor structures the trust, the apartment building could revert to the donor or be passed on to an heir.
Because we have recently changed our name and because we are affiliated with a national organization, we ask donors and their professional advisors to be certain to include our full legal name in their estate documents. This is information to include:
Cancer Support Community of Greater St. Louis
1058 Old Des Peres Road
St. Louis, MO 63131
This is not intended as legal or financial advice. Please consult your professional advisors.