Charitable trusts can help you support a tax-exempt charity and earn a tax deduction at the same time. These trusts do not necessarily make up part of your estate plan, but they can include provisions that activate at your death.
Charitable trusts are governed by complicated IRS rules. To make sure a charitable trust distributes your assets as you intended and earns the tax deductions you expected, you should consult a trusts lawyer and a tax expert before creating one.
Read on to learn some facts about charitable trusts.
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