A Florida Charitable trust can be set up to benefit a charitable organization that you support. The trust can be created and active while you are alive, known as inter-vivos, or it can be created to become active upon your death. If you decide to set up an inter vivos trust, you can continue to receive profits from any assets during your lifetime. The trust and all of the assets within would go to the charity upon your death. There are many options for setting up Florida charitable giving trusts. At DeLoach, Hofstra & Cavonis, P.A. we have helped clients set up charitable gift trusts and other estate plans that will allow you to direct exactly how your assets should be handled since 1976.
Benefits Of Charitable Trusts
- The organization can enjoy income from assets
- You continue to enjoy income from assets
- Support worthwhile organization
- You can change or revoke gift trusts
- You can continue to grow assets within trust
- Gift trusts reduces tax obligation
Food For Thought: What You Should Know About Charitable Trusts
The most important thing to know about a charitable gift trust is that you have many choices. You can choose to continue to receive any profit generated from assets held within a trust while you live or you can choose to have the profits go to the charitable organization during your lifetime. Further, if you create a charitable trust the assets within are no longer part of your taxable income. This gives you the opportunity to reduce your tax obligation.
Attorneys Who Understand Charitable Trusts
Charitable gift trusts are a great tool for those who want to support non-profit organizations. But it is important that you work with an experienced Florida estate planning attorney so that you can get good, solid advice that will result in a trust that will work exactly as you planned. When you work with DeLoach, Hofstra & Cavonis, P.A. you can rest assured that your trust will allow for the greatest benefit for you and for the charitable organization of your choice. If you would like to learn more, call us at 727-397-5571 or fill out the form on the right to schedule a consultation.