how May a testamentary charitable trust be more beneficial to a donor than to an inter vivid charitable transfer?
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how May a testamentary charitable trust be more beneficial to a donor than to an inter vivid charitable transfer?
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- which accurately describes a charitable trust? A charitable organization:What is the difference between a testamentary trust and an inter vivos trust? Choose the correct.a. A testamentary trust conveys money to a charity; an inter vivos trust conveys money to individuals.b. A testamentary trust is created by a will; an inter vivos trust is created by a living individual. c. A testamentary trust conveys income to one party and the principal to another; an inter vivos trust conveys all monies to the same party. d. A testamentary trust ceases after a specified period of time; an inter vivos trust is assumed to be permanent.1. How does a recipient not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? 2. What if the donor retains the right to revoke or redirect the gift?
- How does a trust fund work???Explain the process in simple wordsWhich of the following is a charitable lead trust? Choose the correct.a. The income of the trust fund goes to an individual until death, at which time the principal is conveyed to a charitable organization.b. Charitable gifts are placed into the trust until a certain dollar amount is achieved and is then transferred to a specified charitable organization.c. The income of a trust fund goes to a charitable organization for a specified time with the principal then being conveyed to a different beneficiary.d. A charity conveys money to a trust that generates income for the charity’s use in its various projects.A charitable trust is used to split assets between surviving spouse and the trust. True or False
- What is the difference between a testamentary trust and an inter vivos trust. A testamentary trust conveys money to a charity; an inter vivos trust conveys money to individuals. A testamentary trust is created by a will; an inter vivos trust is created by a living individual. A testamentary trust conveys income to one party and the principal to another; an inter vivos trust conveys all monies to the same party. A testamentary trust ceases after a specified period of time; an inter vivos trust is assumed to be permanent.a. What is the difference between distributing property per capita and per stirpes? When would a per stirpes distribution be required? what are two ways in which the duties of an administrator differ from those of an executor? Must the grantor, trustee, and beneficiary of a trust all be different people? What formalities must be followed to create a testamentary trust?How does a devise differ from a legacy? Choose the correct.a. A devise is a gift of money and a legacy is a nonmonetary gift.b. A devise is a gift to an individual and a legacy is a gift to a charity or other organization. c. A devise is a gift of real property and a legacy is a gift of personal property.d. A devise is a gift made prior to death and a legacy is a gift made at death.
- True or False To qualify as a charitable deduction, the donation must be made by cash or by checkIn estate planning, setting ul a trust account in the name of beneficiaries may help to _______ a. Improve the faith of the beneficiaries b. Maximise the estate tax obligation c. Protect the beneficiaries against future inflation d. Protect the beneficiaries from the creditors of the donorWhich of the following is a charitable lead trust? The income of the trust fund goes to an individual until death, at which time the principal is conveyed to a charitable organization. Charitable gifts are placed into the trust until a certain dollar amount is achieved and is then transferred to a specified charitable organization. The income of a trust fund goes to a charitable organization for a specified time with the principal then being conveyed to a different beneficiary. A charity conveys money to a trust that generates income for the charity’s use in its various projects.
