Testamentary charitable remainder trust
A charitable remainder trust created upon the donor’s death can provide a lifetime income stream to a family member or friend, with the principal of the trust ultimately devolving to Smith and/or other charities.

See charitable remainder trust for more information about the structure and function of these gift vehicles. Please consult an attorney for information about incorporating a testamentary charitable remainder trust into your estate plan.

Testamentary charitable lead trust
A charitable lead trust created upon a donor’s death can delay the passage of assets to family members until they are older and provide current income for charities in the meantime.

See charitable remainder lead trust for more information about these trusts, and ask your attorney whether a testamentary lead trust (or a testamentary lead trust in combination with a testamentary charitable remainder trust) may be a good planning tool for your family.

Living trust
A living trust is a document with which you direct the transfer of your assets at your death. A living trust can help assets pass outside of the probate process, can continue after your death, and is revocable at any time. Your attorney or financial advisor can discuss if this instrument may work for your individual situation.