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I don't have any strong ties to any particular charitable organizations. How do I decide on a charitable beneficiary?

A good starting point is for you to meet with the director of your local community foundation. You can then begin to explore the needs of the community. Many people in your situation gravitate to the areas of their lives that interest them--education, sports, medicine, research, etc.--and then match those interests with appropriate charitable causes. Most advisors would seem to agree that charitable giving invigorates their clients and tends to provide them with additional self-esteem and purpose.
Financial Planning FAQs
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Related Questions & Answers

- Are there disadvantages to a NIMCRUT?

- Can I name a "community foundation" as a charitable beneficiary?

- Can I use a Charitable Remainder Trust to remove retained earnings from my corporation without adverse tax consequences?

- Can S corporation stock be given to a Charitable Remainder Trust?

- Can a Charitable Remainder Trust have more than one trust maker?

- Can the trust maker retain the lifetime right to name different charities as principal beneficiaries?

- Can you explain the basic differences between a Charitable Remainder Unitrust and a Charitable Remainder Annuity Trust?

- How are income payments from a Charitable Remainder Trust structured and taxed to the income beneficiary?

- How can a Charitable Remainder Trust be established for different kinds of income beneficiaries?

- How do I decide which type of trust to use?

- How do I determine what kind of assets should not be given to my trust?

- How many income beneficiaries can a Charitable Remainder Trust have?

- I don't have any strong ties to any particular charitable organizations. How do I decide on a charitable beneficiary?

- If I have appreciated property such as real estate or stock, is there any way I can destroy the tax benefits due to me and my trust when my charitable remainder trustee sells the property?

- If I sell my business in which I have a very low tax basis, can I avoid the capital gain tax?

- It has been suggested that I should establish a "Charitable Remainder Trust" for the benefit of my favorite charities. Can you help me understand this process?

- Realistically, who is a candidate for a Charitable Remainder Trust?

- The Charitable Remainder Trust sounds good, but do I have to irrevocably give up my principal?

- What are the advantages of being my own trustee? Why shouldn't I let a bank take care of my trust during my lifetime?

- What are the advantages or disadvantages of my using a Charitable Remainder Trust versus giving the property outright to charity?

- What are the best kinds of property to give to a Charitable Remainder Trust

- What assets are most suitable?

- What happens if I die leaving income that was due to me in my charitable trust?

- What if there is a contract for sale on the property before it is given to the Charitable Remainder Trust?

- What is so special about a NIMCRUT?

- What types of investments are best purchased by my trustee inside of my Charitable Remainder Trust?

- Why do people create Charitable Remainder Trusts?

- Why is a term of years, rather than the lives of the income beneficiaries, used in a Charitable Remainder Trust?

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