Whether you are trying to generate income for yourself or a family member, or for a nonprofit, a trust may be the solution to your goals. Charitable remainder trusts and charitable lead trusts are strategic tools for the philanthropically minded. With benefits for the donor, beneficiaries, and nonprofits, what’s not to like? The magic is in how they are applied to the goals of donors and nonprofits.
These trust options address two common donor sentiments:
- “I need income now, but neither I nor anyone in my family will need it after I am gone.” Or,
- “I want to take care of my heirs after I am gone, but until then I’d like to help my favorite charity(ies).”
Charitable remainder trusts and charitable lead trusts provide solutions for those two sentiments, respectively. Basically, the remainder generates income for the donor now, while the lead generates income for the nonprofit now; the remainder provides a bulk disbursement to the nonprofit after the donor’s death; the lead provides a bulk disbursement to the heirs/designees after the donor’s death. Granted, that is a simplified overview, but it provides insights to the major differences and how they can be used creatively.
Contact me, Dion McInnis, at 832-877-8821 if you would like to talk more about how these options could fit into your plans of support for the NCSML.
- The winter issue of Slovo magazine will focus on the Velvet Revolution through a variety of stories and articles. It can be dedicated, which provides you the back cover to use as an honor or memorial page to celebrate a theme or people important to you. Please contact me if you would like to discuss this unique dedication opportunity. Slovo is a benefit of NCSML membership (Join here.) Past issues are available for purchase through the NCSML store.
- Velvet Voices of Freedom Speech Competition. The National Czech & Slovak Museum & Library seeks to honor Václav Havel and his many diverse talents by initiating the annual Velvet Voices of Freedom Speech Competition. The intention of the competition is to celebrate the incredible power of human passion expressed through speech to transform the world. High school students will perform a variety of Havel pieces and be judged by certified speech coaches and according to Iowa High School Speech Association standards. Donations are sought for awards for the winners.
You can learn more about supporting the NCSML’s programs on our support page, and feel free to contact me with any questions at DMcInnis@NCSML.org or 832-877-8821.