What is a charitable trust?

A charitable trust is a type of trust that is designed to benefit a charitable organization or cause. It is a legal agreement between a person or entity (the grantor) who provides money or property to another person or entity (the trustee), who then manages it for a specific purpose or causes specified by the grantor. In the case of disability planning law in Washington, charitable trusts are used to provide protection and financial stability for people with disabilities. Charitable trusts can be used to provide a steady income for the disabled person to help cover expenses, such as medical and living costs. In the case of a charitable trust, the trustee is typically a charity or other non-profit organization. The grantor may also designate a beneficiary, such as a family member, to receive the income from the trust. Charitable trusts may also provide tax benefits for both the grantor and the beneficiary. Charitable trusts provide an effective way to secure disabled individuals’ financial future while ensuring that their assets remain in their control.

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