Charitable Lead Trust
Thank you for considering a planned gift to the Conventual Franciscan Friars of the Province of Our Lady of Consolation.
A charitable lead trust is designed to provide financial support to the Friars for a specific length of time, with the remaining assets eventually going to family members or other beneficiaries. A charitable lead trust is designed to reduce a donor’s potential tax liability, upon receipt of their non-charitable beneficiary’s inheritance.
A charitable lead trust is created when a donor irrevocably transfers assets or cash into the trust. Cash payments are annually distributed out of the trust to the Friars, for a set amount of years, and after that time period expires, the balance of the trust is then paid out to the named beneficiaries. This type of charitable trust creates a continuous way for the donor to provide regular, reoccurring charitable contributions, without having to manually issue periodic payments.
To create a charitable lead trust, you will need the guidance of an experienced legal professional.
We are happy to help explore Charitable Lead Trust options to see if this is right for your situation.
As soon as a gift is received and matched to a donor, the Mission Advancement Office sends an acknowledgment letter stating the nature of the gift, the gift valuation date, and the gift valuation amount and a clarification statement indicating no goods or services were exchanged for the gift.
The Province of Our Lady of Consolation is a tax-exempt 501(c)(3) organization (EIN # 35-6019627) and does not provide tax, legal, or financial advice. Any document or information shared by our staff is intended to be educational. We strongly encourage donors to seek counsel from their own legal and financial advisors.