How can I ensure that my charitable donations will be properly handled?

Ensuring that your charitable donations are properly handled requires estate planning. Estate planning can help you make sure that your charitable donations will be managed properly and reach your intended recipients. In California, it is important to understand that for all philanthropic estate planning to be successful, you must consider how best to ensure that your intended donation reaches its beneficiaries. Most donations are made in the form of a bequest, which is a gift of property distributed upon your death, or a trust, which is an arrangement that allows you to distribute assets to charities rather than to your heirs. You can also look into certain types of trusts that can provide an income stream to the charity of your choice. A Charitable Remainder Trust (CRT) and a Charitable Lead Trust (CLT) are two types of trusts that are commonly used in California. A CRT allows you to transfer assets to a trustee and receive back a percentage of the principal each year for a set period, with the remaining assets going to your chosen charity when you pass away. A CLT is similar, however the income stream goes to your chosen charity, with the remaining assets being distributed to your beneficiaries. In addition to setting up a trust, you should make sure to document your wishes clearly in your will. Once these arrangements are in place and well-documented, you can be assured that your charitable donations will be properly handled.

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How can I ensure that my charitable donations will be properly handled?

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