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Estate Planning Blog

Working with a Trust Lawyer in Fair Oaks to Set Up a Charitable Trust

April 16, 2012

Trusts lawyers in Fair Oaks understand that there are a number of reasons why our clients might choose to create a charitable trust, and our job is to set them up in the way that best meets their needs.

For example, some Sacramento area residents are interested in the idea of a charitable trust because it can reduce the tax burden on the overall estate. In other cases, of course, the individual is simply looking to do good with his or her money. No matter what your reason, your trust lawyer will be responsible for outlining for you the applicable rules and regulations for bequeathing your money or property in this way.

Estate planning laws differ from state to state, and possibly even from county to county. That’s why, if you live in California, it’s in your best interest to hire a trust attorney from the same area. An experienced trust attorney in the greater Sacramento area will be well-versed in the requirements for right here where we work and practice.

Requirements for Setting Up a Charitable Trust

One of the first requirements of a charitable trust is blatantly obvious: you must have something to put in the trust, whether it is money, real estate, or some other form of property. Also pretty self-evident is the fact that the trust must demonstrate a charitable purpose.

Additionally, a trustee must be named as the person who will oversee and administer the trust, and beneficiaries must also be named. The beneficiaries are those who will benefit from the trust. The beneficiaries must meet certain criteria in order for the trust to be considered “charitable.” Your trust lawyer will work with you to ensure you are fulfilling this obligation by making sure you don’t name a for-profit business as the beneficiary, for example. Likewise, it is improper for a charitable trust to benefit a private individual.

To ensure you are setting up your charitable trust within the confines of the law, work with a Sacramento attorney to create a plan that’s right for you. To get started, please call our law firm at (916) 241-9661 and ask if you qualify for a Peace of Mind Planning Session with the mention of this article ($750 value).

Call The Chubb Law Firm today at (916) 241-9661 to review your goals and discuss your options.

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I was absolutely without a clue as to how to begin or what I should do to establish an estate plan. I did know that I wanted someone I could trust, that was honest and I would have confidence in. I was referred to Heather by my friend who was being legally advised by Heather on another estate. She was very satisfied with her work and thought I might be happy with her service. At our consultation appointment, her presentation was very thorough. I had lots of questions, and she was easy to talk to and was able to guide me to just the kind of estate plan I needed. That was 10 years ago. Due to circumstances in my life, I have had to make changes to my plan, and I always go back to her for her legal services and guidance. I have recommended Heather before.
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