Outside the box: Legacy combinations you might overlook

As you’re developing estate plans for your charitable clients, remember that YouthBridge Community Foundation is happy to help structure a hybrid gift in which a personal component is paired with a charitable component.

For instance, the charitable remainder trust (“CRT”) is a popular tool because it allows your client to generate a lifetime (or term of years) income stream, with the remainder automatically flowing to a nonprofit organization. Because the trust is irrevocable, an immediate income tax deduction is available for the present value of the future gift to charity.

But the CRT is not necessarily the end of the story. Charitably-minded families may elect to name their fund at YouthBridge as the remainder beneficiary of a charitable remainder trust, thus creating a lasting legacy. This is especially the case when the fund is established as an endowment to dynamically support the most pressing community needs at any given time, make ongoing annual grants from the fund’s income to specific organizations your client selects, or provide regular funding to causes your client wants to support in perpetuity.

This article is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. If you have any questions or would like to discuss your giving strategy, please contact Cindy Blake.