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Estate Planning Newsletter

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    A witnessed will is only one of several different types of wills. It is also referred to as a “formal” or “attested” will, and involves the eyewitness participation of other... Read more.
  • Tax Deductions for Donations of Property to Charities
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  • New Estate Tax Rates Bring Certainty
    Much to the relief of many, the American Taxpayer Relief Act of 2012 (“2012 Tax Act”) was enacted in the beginning of 2013, making permanent many of the tax benefits that were scheduled to expire at the end of 2012. The... Read more.
  • Protecting Inheritance Rights Under Adoption by Estoppel
    In general terms, the judicial doctrine of “equitable adoption” recognizes a valid parent-child relationship in the absence of a formal adoption procedure, holding a person who has acted like a child’s parent for a... Read more.
Estate Planning News Links

Giving to Charity

It is possible to set up a trust for charitable purposes. Charitable trusts are quite common, but certain requirements must be met.

Purpose of a Charitable Gift

Reasons for charitable gifts funded through a trust include the desire to:

  • Help relieve poverty
  • Help the elderly
  • Advance a religion
  • Benefit educational establishments
  • Aid with the construction or maintenance of public property (such as a park)
  • Prevent animal cruelty

How Are Beneficiaries Designated?

In general, beneficiaries of charitable gifts must have a broader scope:

  • Cannot be specifically named people
  • Can be a class of persons
  • May be institutions

In some cases, a charitable gift may be given to a non-charitable organization. However, there must be a charitable intent; otherwise the trust is invalid as a charitable trust.

Supervision & Regulation

In some states, the office of the Attorney General oversees charitable trust activity. The Attorney General’s duties in this regard include:

  • Maintaining a register of charitable corporations, trustees, and trusts
  • Investigating transactions relating to charitable trusts
  • Enforcing charitable trusts
  • Recovering property on behalf of a charitable trust

Cy Pres Doctrine

If your charitable wishes cannot be fulfilled for some reason, the appropriate court will attempt to carry out your wishes by giving the property to an organization with a related charitable purpose. For example, a charitable trust set up to eradicate polio may instead be given to aid a pediatric foundation.

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