Maximizing Your Impact: Westminster Alum and Charitable Trusts

As alumni of Westminster College, you are deeply aware of the pivotal role education plays in shaping lives. Beyond our personal journeys, many of us seek to leave a lasting legacy supporting the institutions that have shaped us. Estate planning offers a powerful avenue to achieve this goal, and one strategy that stands out for its dual benefits is establishing a charitable trust.

Tax Advantages:

Establishing a charitable trust offers significant tax benefits. By transferring assets to such a trust, individuals can enjoy immediate income tax deductions and potential reductions in estate taxes. This strategic move not only amplifies the impact of charitable giving but also minimizes the tax burden on the estate, allowing for a more efficient allocation of resources.

Mechanics of a Charitable Trust:

A charitable trust typically involves the transfer of assets, such as cash, securities, or real estate, to a trustee who manages these assets on behalf of the designated charitable beneficiaries, including Westminster College. There are various types of charitable trusts, including charitable remainder trusts and charitable lead trusts, each offering distinct benefits and mechanisms for distributing income and assets.

Income Stream:

One of the compelling features of a charitable remainder trust is the ability to provide a reliable income stream for the donor or other beneficiaries for a specified period of life. This income stream is derived from the assets placed in the trust, allowing donors to simultaneously support both philanthropic causes, such as Westminster College, and their financial needs.

Asset Protection:

Assets held within a charitable trust are safeguarded from creditors and potential legal claims, providing an additional layer of protection for the estate. This can be particularly advantageous for individuals looking to preserve their wealth for future generations while supporting charitable endeavors.

Legacy Preservation:

By designating Westminster College as a beneficiary of the charitable trust, alums can leave a lasting legacy that supports the institution’s mission and future generations of students. Contributions to Westminster College through the trust can provide vital funding for scholarships, academic programs, faculty development, and campus infrastructure, ensuring the institution’s continued excellence in education.

In conclusion, estate planning with a charitable trust offers a compelling opportunity to fulfill philanthropic aspirations while securing financial benefits for both donors and their loved ones. You encourage alums to explore this option further and consider how they can make a meaningful impact through their estate planning decisions.

For more information or assistance in establishing a charitable trust to benefit Westminster College, contact your financial advisor.

Thank you for your continued support and commitment to Westminster College’s mission.


Chuck Zuzak, CFP®, CFA

Get Started With
JFS Today

Subscribe to See More Articles Like This

Subscribe to Receive Our Regular Updates

Subscribe to Be Invited to Our Upcoming Webinars