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Charitable Trusts

Brandon Family Law Center, LLC, strives to meet your estate planning goals. One of your particular goals may concern distributing money to a charity of your choice. A charitable trust is just one of the tools we use to help you carry out your wishes regarding your estate.

What Is A Charitable Trust?

The intent of creating a charitable trust is to benefit a specific charity or charities. If constructed correctly, charitable trusts can reduce the estate tax and other taxes your heirs would otherwise have to pay. It allows for liquidation of certain assets and the placing of proceeds into the trust without the requirement of having to pay these taxes.

The Kinds Of Charitable Trusts We Can Create For You

Our attorneys can create for you:

  • Charitable remainder trusts: This is a trust that will provide a guaranteed income to the beneficiary for life, with the remainder designated for a particular charity. When a specified period ends or the beneficiaries pass away, a charity received whatever is left.
  • Charitable remainder annuity trusts: A charitable remainder annuity trust is one in which the grantor of the trust retains an interest in the trust, in the form of an annuity, with the remainder being paid to charity upon termination of the trust.
  • Charitable lead trusts: This is a trust made in favor of a charity, allowing that charity to receive the income from the trust for a certain period of years. When that period ends, what remains in the trust reverts to your estate.

At Brandon Law Center, LLC, our lawyers offer over three decades of experience in creating such trusts for Florida residents. Our services allow for you to make charitable contributions while at the same time reducing estate taxes.

The decision to create a charitable trust should never be made lightly, however. Such instruments are often irrevocable and not generally subject to change after creation of the trust has taken place. We discuss with you your goals and wishes regarding the distribution of your estate after you pass away. Our lawyers explain in detail the estate planning options you have available. Specifically, we will discuss whether creation of a charitable trust would be advisable after considering all of your circumstances.

Contact Our Law Firm Today

No one should leave their long-term financial goals to chance. Should you die without a valid plan in place, your assets face depletion through taxation and expenses. Contact our firm to arrange for a consultation by calling Brandon Family Law Center at 813-438-7119.