Give It Twice Trust
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What is a Give it Twice Trust?
A Give it Twice Trust is a charitable giving strategy that allows donors to transfer assets into a trust, provide income to beneficiaries for a specified term, and then distribute the remaining assets to charity upon the termination of the trust.
- A Give it Twice Trust, also known as a Charitable Remainder Unitrust with a Net Income Makeup Provision, is a type of charitable giving arrangement that combines income for beneficiaries with a charitable donation.
- The trust provides income to beneficiaries for a specified term or their lifetimes, with the remainder of the trust assets passing to Cure SMA upon termination.
- If the income from the trust's investments is insufficient to provide the agreed-upon payments to beneficiaries, the Net Income Makeup Provision allows the trust to make up the shortfall in subsequent years when the trust's income exceeds the payments.
- Give it Twice Trusts provide donors with the opportunity to support both loved ones and charitable causes, potentially reducing estate taxes and providing income tax deductions.
Benefits from a Give it Twice Trust:
- Income for beneficiaries: Beneficiaries receive income from the trust for a specified term, or their lifetimes, providing financial support.
- Charitable contribution: Upon termination of the trust, the remaining assets are distributed to Cure SMA, allowing donors to support causes they care about.
- Tax benefits: Donors may be eligible for income tax deductions for the present value of the charitable remainder interest, potentially reducing taxable income.
- Estate tax reduction: The value of the assets passing to Cure SMA upon termination of the trust is removed from the donor's estate, potentially reducing estate taxes.
How your donation will benefit the SMA community
- Basic research to pave the way for new SMA muscle treatments and a cure
- SMA advocacy initiatives like caregiving access and transportation
- Improving standardized care for every person with SMA
“If it weren't for Cure SMA, we might not have the treatments in place that have helped my daughter to thrive while living with SMA. I'll forever be grateful and do what I can to support Cure SMA."
How a Give it Twice Trust Works
A donor transfers assets into a trust, which provides income to beneficiaries for a specified term or their lifetimes. Upon termination of the trust, the remaining assets are distributed to one or more charitable organizations as specified in the trust agreement. If the trust's income is insufficient to provide the agreed-upon payments to beneficiaries, the Net Income Makeup Provision allows the trust to make up the shortfall in subsequent years when the trust's income exceeds the payments.
Provides income to beneficiaries for a specified term or their lifetimes, with the remainder passing to charitable organizations upon termination.
Offers flexibility in determining the timing and amount of income payments to beneficiaries, allowing for customization based on individual financial needs and goals.
Contact Us
If you have any questions, would like further information, or want help making your contribution, then please contact us at [email protected] to get started.
Legacy giving typically takes many conversations and is not a fit for everyone. Conversations with Cure SMA about planned giving should be considered general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting, or other professional advice. To determine how a gift or estate planning decision might affect your circumstances, it is expressly recommended that you consult an attorney, financial advisor, or other qualified professional.