Charitable Trusts attorney meek law firm charlotte nc

If you are interested in designing a trust to transfer assets to a charity, you have two options in North Carolina.

A charitable remainder trust has both income tax and estate tax deductions, which appeals to many interested in donating to charity.

This option allows the donor to leave some of their estate to a charity while gaining a benefit for themselves in the short term. The donor of the trust will receive income from it for a certain period. Low yield assets often make the most sense for a charitable remainder trust. Within this category there are two further delineations: charitable remainder annuity trusts and charitable remainder unitrusts. While both pay out part of the value to a beneficiary, the annuity trust pays out a fixed dollar amount whereas the unitrusts pays a percentage. A remainder interest is paid out to the charity. READ MORE

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