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Concurrent Session Onsite and Online

EST2320. Charitable Giving with Noncharitable Trusts

Affluent clients typically accumulate much of their wealth in trusts designed primarily to benefit family members. If these clients are philanthropically inclined, they may want to tap into the family’s non-charitable trusts for charitable giving. Specifically, the program will address: (1) how to utilize existing irrevocable trust assets for desired or obligatory gifts to charity either (i) directly from the trust, (ii) through an entity like a partnership, or (iii) by distributing to an individual beneficiary who then donates to charity, and (2) how to draft new trusts to promote flexibility for future family philanthropy.

Learning Objectives:

  • Review of income tax deductibility for charitable distributions from non-grantor trusts.
  • Analysis of existing irrevocable trusts to determine if distributions can be made or directed for charity or if distributions can be made to beneficiaries for charitable giving.
  • Consideration of investing in a pass-through entity that can make charitable donations.
  • Suggestions for drafting new trusts primarily for the family beneficiaries, but that also promote flexibility for future family philanthropy (including use of disclaimers for contingent charitable gifts).
CPE Credits
NASBA Field of Study
3-4 years in the Profession
Advanced Preparation
Session Tags