Legacy Charitable Remainder (“Give It Twice”) Trust

Contact us to set up a legacy charitable remainder trust
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WHAT IS A LEGACY CHARITABLE REMAINDER TRUST?

A legacy charitable remainder trust, also known as a “give it twice” trust, is a trust funded after the Lord calls you home. Once funded, the trust provides quarterly income payments to your heirs for up to 20 years. When the trust ends, the remaining assets are distributed to the WELS or WELS-affiliated ministry (or ministries) of your choosing.

WHAT ARE THE FEATURES?

  • Gift size: Minimum of $200,000, typically funded from a retirement account via beneficiary designation.
  • Payout rate: Five percent for up to 20 years to your heirs.
  • Charitable distribution: The trust remainder is distributed to the WELS or WELS-affiliated ministry (or ministries) of your choosing at the termination of the trust.

WHAT ARE THE BENEFITS?

  • Flexibility: Because the trust is funded after the Lord calls you home, you maintain control of your assets throughout your lifetime.
  • Provides for your heirs: Instead of leaving a one-time lump sum inheritance, you can provide an ongoing source of income for your heirs for up to 20 years.
  • Tax savings: Funding the legacy trust from a tax-deferred retirement account may provide additional tax benefits. Rather than having to distribute an inherited IRA within 10 years, the IRA can be used via beneficiary designation to fund a legacy charitable remainder trust with a 20-year payout period.
  • A gift to ministry: At the end of the payout period, the trust remainder is distributed to the ministry (or ministries) of your choosing. This charitable distribution can be made as a lump sum or used to fund an endowment fund—providing an ongoing source of support for your favorite WELS ministries.

Why are legacy charitable remainder trusts becoming a popular way for donors to support not just their loved ones but also the ministries they love?

In this video, WELS Christian Giving Counselor Rev. Tom Mielke and WELS Foundation Executive Director Jim Holm talk about the basics and blessings of legacy charitable remainder trusts.

The information contained on this website is not intended as legal advice. For legal and tax advice, WELS Foundation encourages you to consult an attorney or tax professional. The figures cited in the examples on this website are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.