Bequests
Leave your legacy by making a gift in your will to friends, family and
charitable organizations. A bequest is one of the simplest ways to
remember those you care about most.
If you plan to make a charitable gift by will, please think it through
carefully. Then, meet with your attorney to discuss and update your
will. Tell him or her exactly what you want to do. Be as clear as
possible in describing what you want given to whom.
We hope you'll tell us when you have named United Way of Greenville
County in your will. We would very much like the opportunity to thank
you for your generosity. If you prefer to remain anonymous, your gift
will be kept completely confidential. But at the same time, recognition
of your gift can encourage others to do the same. Whatever the case, we
will honor your wishes, because we appreciate your support immensely.
Charitable Remainder Trust
What are your plans for the future? While there is no single way to
achieve all of your personal and financial goals, there is one strategy
that can meet many of your needs. It’s called a charitable remainder
trust. In the right circumstances, this plan can increase your income,
reduce your taxes, unlock appreciated investments, rid you of
investment worries and ultimately provide very important support.
When you create a charitable remainder trust, you irrevocably
transfer money, securities or other assets to a trust that will then
pay you an income for life or for a period of years. If you wish, the
trust also can pay an income to another beneficiary of your choice. At
the death of the surviving beneficiary, the remaining principal in the
trust goes to United Way of Greenville County.
You can design your trust to fit your own special needs. First, you
decide how much you’d like to put into the trust. Second, you determine
the income you'd like to receive from the donated assets. The rate of
income return you select must be at least 5 percent. Usually, the rate
selected is 5 percent to 7 percent. The best rate for you will depend
upon the number of beneficiaries you select and their ages. Third, you
decide which type of charitable remainder trust will work best for you.
Charitable Lead Trust
If your goal is to provide an inheritance for your children, but you
would also like to make a significant charitable gift through your
estate, find out how a charitable lead trust can help you satisfy both
objectives. It’s a charitable lead trust that can provide a significant
charitable gift through your estate and provide an inheritance to your
children.
When people think about providing an inheritance to children and making
a significant charitable gift through their estates, a vehicle known as
the “charitable lead trust” is an excellent way to accomplish both
objectives.
A charitable lead trust is a trust that the estate owner establishes
either during life (an inter vivos trust) or at death (a testamentary
trust). The income from the trust flows to a charitable organization,
like United Way of Greenville County, for a stated number of years.
After that period, the assets inside the trust are then distributed.
The fact that the assets will one day be transferred to another person
means that this trust has one further distinction: it is a “nongrantor”
trust, as opposed to a grantor trust. "Nongrantor” means the trust
assets are not owned by the person who established the trust, and the
assets are not going to be returned to him or her someday. (A “grantor”
trust is one in which the donor controls the assets, deciding where
they will eventually be distributed. As a result, the donor is subject
to tax on the assets.)
The information on this site is not intended as legal tax or investment advice. For such advice, please consult an attorney.
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