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Daily Archives:Friday, October 2, 2015

What Is A Charitable Trust?

October 2, 2015

The purpose of a trust is to protect and hold a person’s assets for the benefit of another individual or an organization. A trust can specify how and when assets are passed onto this beneficiary. There are many different types of trusts, which are each designed for a particular purpose. One type of trust under Florida law is called a charitable trust.

The most common charitable trust is called a charitable remainder trust. When setting up a charitable remainder trust, the first step is to choose a charity to be the beneficiary….