What is a charitable trust?
A charitable trust is a form of trust created to support a charitable organization. It is a type of legal structure that provides funds and other resources to organizations that support the public good. In Arkansas, a charitable trust is created when the grantor (the person or organization that creates the trust) transfers assets into the trust and specifies the purpose of the trust, the trustee, and the beneficiaries. The trustee is responsible for managing and investing the trust assets and ensuring they are used for their intended purpose. The beneficiary of a charitable trust is usually a charitable organization, such as a church, school, or other non-profit organization. Charitable trusts may also benefit individuals or families in need, or benefit other organizations in the community. Charitable trusts can be set up for a variety of purposes, such as providing healthcare services, supporting education, or providing housing and other services to those in need. In Arkansas, charitable trusts are governed by the Arkansas Uniform Trust Code.
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