Tell Me About Charitable Trusts

Charitable trusts are legal entities designed to support charitable causes. They allow individuals to donate assets, such as cash or property, while retaining some control over how the funds are used. Charitable trusts offer tax benefits and are a powerful way to leave a lasting impact on the causes you care about.

Including one in your Naples estate plan is a great way to support a cause you care about, establishing a legacy of caring, and receiving tax benefits for that kindness. If you want to learn more about charitable trusts, contact James R. Nici, a Naples charitable trust attorney.

What Are the Types of Charitable Trusts in Naples?

There are four types of charitable trusts in Naples, Florida.

• Charitable Lead Unitrust – A charitable lead trust pays income to the charity for a set term of years. When the trust ends, the remaining property is paid to noncharitable beneficiaries (typically family members).

• Charitable Remainder Trust – A charitable remainder trust pays income to noncharitable beneficiaries (often the creator of the trust) for a set term. After the trust ends, the remaining property is donated to charity.

• Charitable Remainder Annuity Trust – The trust pays an annuity (calculated as a fixed percentage of the trust’s initial value) to noncharitable beneficiaries for a set term. When the trust ends, the remaining trust property is donated to charity.

• Charitable Remainder Unitrust – The trust pays a percentage of the value of the trust each year to noncharitable beneficiaries. When the trust ends, the remaining trust property is donated to charity.

Naples attorney James R. Nici can help you decide which charitable trust best fits your situation.

What are the Benefits of a Charitable Trust in Naples?

Including a charitable trust in your Naples estate plan has several benefits.

1. You can leave a charitable legacy. Charitable trusts are a great way to carry on your legacy and give back to a cause that is important to you.

2. Charitable trusts provide tax benefits. Charitable trusts reduce federal and estate gift tax liability. Depending on the type of charitable trust, they can also help you save on capital gains taxes and federal income tax.

3. Charitable trusts provide asset protection. Placing property in a charitable trust can protect the assets from creditors.

How Do I Create a Charitable Trust in Naples?

If you want to add a charitable trust to your estate plan, call attorney James R. Nici. Charitable trusts are complicated documents that must be created with the help of a qualified Naples charitable trust attorney. James R. Nici will ensure that the trust is properly drafted and that both you and the charity receive the maximum possible benefits.

Call A Naples Charitable Trust Lawyer

If you have questions about charitable trusts, trusts in general, or any aspect of estate planning, you should contact the Nici Law Firm. James R. Nici is an experienced Naples trust lawyer with over 25 years of experience. Contact our office today at (239) 449-6150 or use our web form to set up a free consultation.