Establishing a scholarship fund allows you to leave a lasting legacy, while also reducing estate taxes and supporting students in need.
It may be better to give than to receive. However, it may be even better to give and see your generosity rewarded.
A charitable trust allows you to donate assets to a chosen tax-exempt charitable organization or nonprofit and comes with certain tax benefits to help you minimize what you might owe to the government.
In general, the best reason to establish a charitable trust, is if you would like to create a long-standing form of charitable giving.
Why wait? A variety of trusts—from SLATs to BDITs, GRATs and more—can help you be proactive in protecting your wealth.