Charitable trusts offer a flexible way to advance philanthropy while delivering tax efficiency and orderly wealth transfer. They can provide income streams during life, preserve family wealth, and ensure lasting impact in communities you care about. Thoughtful planning reduces unintended consequences and supports long-term stewardship aligned with your values.
A comprehensive approach delivers consistent language, defined outcomes, and clear governance. Donors gain greater confidence that assets will be used as intended, while trustees have precise instructions to guide administration and reporting.
Our team combines solid estate planning experience with a thoughtful approach to philanthropy. We tailor strategies to your unique situation, clearly explain options, and guide you through each step from initial planning to ongoing administration.
Periodic plan reviews address life changes, updated tax rules, and evolving philanthropic priorities to keep the trust effective and relevant.
A charitable remainder trust is a vehicle that provides income to designated beneficiaries during their lifetimes, with the remaining assets benefiting a charity. It can reduce estate taxes and create lasting philanthropic impact. To begin, discuss goals with our team, outline the charitable remainder structure, and prepare the necessary documents and funding plan for a smooth setup.
A trustee can be an individual or an institution with fiduciary responsibilities and financial expertise. It is important to define duties, reporting requirements, and conflict-of-interest policies clearly. We help you evaluate potential trustees, draft role descriptions, and establish governance practices that protect donor intent and ensure prudent administration.
Charitable trusts may offer tax benefits, including deductions and potential estate tax reduction, but they involve ongoing reporting and administration. Income generated by the trust may be taxable to beneficiaries. Consult our team to understand how NC and federal rules apply to your situation and maximize lawful benefits.
A donor-advised fund is a giving vehicle that enables donors to contribute assets and recommend grants over time. It provides simplicity and flexibility while maintaining some governance. Although not a traditional trust, DAFs share many planning benefits and can complement other charitable strategies.
In many cases, beneficiaries or charities can be updated or changed with appropriate amendments, depending on how the trust was drafted. We review options for revisions while preserving the core charitable purposes and ensuring compliance with applicable laws.
Charitable gifts may be deductible, subject to IRS rules and the type of giving vehicle used. Consult our team to determine eligibility, documentation requirements, and how to maximize allowable deductions within your overall estate plan.
