Charitable Trusts
Charitable Trust Planning in Green Bay, WI
At Czachor, Polack + Borchardt, L.L.P., serving Green Bay, WI, Shawano, Oconto, and surrounding areas, we provide comprehensive legal services tailored to fulfill your charitable goals and secure advantages for you and your beneficiaries. Our experienced team specializes in assisting philanthropists and non-profit entities in navigating the intricate process of establishing and managing charitable trusts to ensure endeavors are fulfilled. With a deep commitment to ethical practices and a focus on community impact, our team is here to support you every step of the way in achieving your charitable objectives.
What are the Types of Charitable Trusts?
We understand the importance of aligning your values with your giving strategy, and we work closely with you to create a personalized plan that reflects your philanthropic vision. We consult, guide, and help clients establish the following two types of charitable trusts:
- Charitable Remainder Trusts (CRATs): Provides income to donors or beneficiaries while committing later to charitable organizations.
- Charitable Lead Trusts (CLATs): Front-loads charity with donations while preserving the remaining assets for heirs.
The Prime Advantages of Charitable Trusts
Here are the benefits charitable trusts can provide for your beneficiaries and yourself:
- Estate Tax Reduction: Charitable trusts reduce estate taxes by transferring assets to chosen charities, potentially lowering the taxable value and benefiting donors and charities.
- Long-Term Impact: Setting up a charitable trust allows individuals to impact society by supporting causes they care about and ensuring donations are effectively used for charity.
- Generating Income: Charitable trusts like charitable remainder trusts (CRTs) provide income to donors or beneficiaries before transferring assets to charity, combining financial benefits with charitable giving.