Trusts can be used as powerful estate planning tools. If your goals include leaving a philanthropic legacy, charitable trusts can provide a "win-win" situation for you, your family and your chosen charitable beneficiary.

Giving to HFH/Buffalo While Still Leaving Funds For Your Family

This can be accomplished through a charitable lead trust. This type of trust transfers assets to a trust which would pay the income from the trust to Habitat for Humanity - Buffalo for a number of years.  It can be for a lifetime or for a specified period.  After the time period, the assets are returned to the donor or designated beneficiaries.

This type of trust allows the donor to determine when family members will receive an inheritance.  In many cases, taxes and probate expenses may be reduced or eliminated. As such, a charitable lead trust may be an important tax and estate planning tool. To start a charitable lead trust, contact your attorney or tax advisor.

Donating Money You Don't Need in Retirement to HFH/Buffalo

Often, prospective donors wish to ensure that their retirement needs and family will be provided for before making a charitable commitment. A charitable remainder trust can allow you to ensure that your personal goals, such as dependable income during retirement, are met using the funds and income of the trust.  The remaining funds would be distributed to charity.  It is possible to combine a charitable remainder trust with other trusts to also provide a benefit (with or without restrictions) to your children or grandchildren.

CharitableRemainderTrust.com and SaveWealth.com are third party sites with additional information on charitable trusts.

For more information, please contact us using our online email form.