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Nici Law Firm, P.L. Protecting Your Assets for Generations to Come
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Naples Charitable Trusts Lawyer

You probably don’t need an incentive to engage in charitable giving and would give to others even if it didn’t happen to also benefit you personally. Regardless, the federal government encourages and rewards charitable giving by offering favorable tax treatment to the charitable-minded. With the right kind of Estate Planning, you can make sizeable gifts to your favorite charities while still ensuring sufficient income for yourself and your loved ones after you are gone. As a Florida Board-Certified Specialist in Wills, Trusts & Estates who also holds an advanced law degree in Taxation, Naples charitable trusts lawyer James R. Nici can create the right mix of Trusts and other instruments to accomplish your charitable intentions while maintaining income for yourself and your family and minimizing Estate and Gift Taxes, income tax and the costs of Probate. Call Nici Law Firm, P.L., in Naples at 239-449-6150 or contact us online to discuss and implement Charitable Trusts as part of your Florida Estate Plan.

Meet your income needs and make a lasting charitable gift with a Charitable Remainder Unitrust

A Charitable Remainder Unitrust guarantees life income to the grantor while establishing a Trust fund for a designated charity that kicks in at the end of the grantor’s interest. As the grantor or settlor who sets up the Trust, you can designate the income to go to yourself or another person of your choosing. You can also set the income period to be for life or some predetermined amount of time. If you like, you can even designate a spouse or other successor to receive income after you and before the charity.

The cash, securities, property or other assets you fund the Trust with are taken out of the Probate estate, lowering the time and cost of Estate Administration. You’ll also get an income tax deduction when you set up the Trust and ongoing favorable tax treatment. For instance, you can fund the Trust with appreciated securities for excellent tax benefits.

How much income will you receive from the Trust? You decide this amount when creating the Trust by choosing an annuity or a fixed percentage, which is multiplied by the fair market value of the assets in the Trust every year. Either way, you can ensure an appropriate amount of income while preserving a healthy gift for your charity later on.

Help a charity and your descendants with a Charitable Lead Trust

A Charitable Lead Trust, in essence, reverses the order of a Charitable Remainder Trust. In a Charitable Lead Trust, a charity of your choosing receives an annual income for a set period, after which the remainder of the Trust goes to a beneficiary you designate or back to you as the settlor. As with a Charitable Remainder Trust, you set the percentage of income to be paid from the Trust; only this time the income goes to the charity, with the principal in reserve. The income period for a Charitable Lead Trust may be a set number of years, or it may be tied to the life of the donor or a spouse or child.

One benefit of a Charitable Lead Trust is that it allows you to give a substantial gift to charity while still leaving a sizeable inheritance to a child, grandchild or other beneficiary who is not yet mature enough or otherwise ready to inherit. The beneficiary also receives a tax benefit when the value of the gift would otherwise be over the estate and gift tax exemption; the present value of the gift is not subject to the Estate and Gift Ttax, and the remainder can be planned to come out under the exemption cap.

Thoughtful, Intelligent Estate Planning that Meets Your Practical Needs and Charitable Intentions

For the right kind of Estate Planning that meets your needs during your lifetime and takes care of your descendants as well as charities important to you, contact Nici Law Firm, P.L., in Naples at 239-449-6150 or contact us online for a complimentary consultation to explore options with a dedicated and experienced Florida Board-Certified Estate Planning Specialist in Wills, Trusts and Estates.

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