The Living Trust:
You Keep Control
Living trusts have been called the most flexible financial planning device available. Unlike other life income plans, such as an irrevocable charitable annuity trust or unitrust, a living trust is fully revocable and amendable. You can change the terms of the plan or withdraw all of the assets any time you wish.
You're the beneficiary for life, perhaps with a loved one as surviving beneficiary, after which the remaining principal can go to United Cancer Research Society to meet our important needs.
A Flexible Plan
The living trust overcomes the obstacle of irrevocability in other plans by giving up the
income tax charitable deduction. However, there are many other benefits, including estate
tax savings later on.
You keep control.
In addition to the right to add to or withdraw the principal, you are entitled to all the income. You can also change the ultimate beneficiaries as well as other terms of the trust.You name the trustee.
If you wish, you can be the trustee. Sometimes it's advisable to name a professional trustee, perhaps a bank or trust institution.You set investment objectives.
If you name another as trustee, you outline for the trustee your income needs and growth expectations. Then you monitor performance.You gain freedom and security.
You let your trustee do all the paperwork, collecting dividends and interest and remitting the income.
A living trust allows you the freedom to travel extensively without needing to handle your day-to-day financial matters. Should you suffer a prolonged illness, your trustee can even pay your medical and household bills.
Estate Planning Benefits
Your trust can be written so that after your lifetime the assets will go to United Cancer
Research Society either immediately or only after some other individual benefits from
them. The advantages of a living trust multiply after your lifetime.
The trust assets avoid probate.
Whether the trust continues or terminates, none of the assets will be included in your probate estate, so probate costs and delays are reduced.The trust terms are private
The details about the beneficiaries and assets of a living trust usually don't enter the public record.Your wishes are respected.
With a trust plan, you can be sure the assets ultimately will benefit the institutiuon that means so much to you.
Valuable Estate Tax Savings
A living trust can embrace provisions designed to minimize estate taxes. After your
lifetime, the value of the assets distributed immediately to us completely avoids estate
tax.
But suppose you want your trust to pay a life income to a loved one first, after which the remaining principal is distributed to us. If by its terms the trust becomes a qualified charitable remainder trust, then part of the market value of the trust bypasses the estate tax on your estate. The amount is based upon the survivor's life expectancy.
If the survivor is your spouse, you can avoid estate tax completely through a qualified terminable interest property (QTIP) trust. You arrange for your surviving spouse to receive all the trust income for life. Thereafter, the remainder passes to us according to the terms of the trust.
We'll Help You Decide Which Plan is
Best
During your lifetime, either a revocable living trust or an irrevocable life income plan
is a superb way of arranging a significant contribution to United Cancer Research Society.
Keep in mind, ther's no income tax charitable deduction when you create a revocable trust, and the level of income is not guaranteed. On the other hand, when you establish an irrevocable annuity trust or unitrust, you become entitled to a substantial income tax charitable deduction immediately. The payout amount or variable rate is selected at the outset, and it then becomes fixed.Either kind of planned gift truly reflects your benevolent interest in supporting our financial needs. This is your greatest reward.
Our representative will be glad to help you reach the best decision.
