What is a charitable trust?

A charitable trust is a legal arrangement in which an individual or group of individuals places money or other assets into a trust. The money or assets are then managed to benefit a specific charity or purpose. For example, a charitable trust might support research or provide a scholarship for students with disabilities. In Florida, certain charitable trusts are recognized under disability planning law. This type of trust is specifically designed to benefit individuals with disabilities by providing them with long-term financial security. The trust is created by a person or group of people who want to provide financial assistance to an individual with disabilities. The trust is typically funded with cash or other assets, and its assets will be managed by an independent trustee who is appointed by the creator of the trust. The trust can also include legal documents that will allow its assets to be used to pay for things like medical expenses, housing, and other necessities. The trust may be used to supplement government benefits, and it can also be used to ensure that the individual with disabilities is taken care of when the creator of the trust is no longer able to do so.

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