What is a charitable trust?

A charitable trust is a legal arrangement where an individual or organization (a grantor) sets aside money or property to be used for a specific charitable purpose. The grantor transfers the money or property to a trustee, who is in charge of managing the trust and ensuring that the resources are put to use for the benefit of the charity. The trustee must obey the instructions set out by the grantor and use the resources of the trust for the charitable purpose chosen by the grantor. Usually the money or property is held in an account and invested, so that it can grow over time and be used to fund a variety of charitable activities. The trustee must report to the grantor periodically to ensure that the trust is being used appropriately. Charitable trusts are often used to give money to organizations that are dedicated to helping those in need, such as disability planning law organizations in South Carolina.

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