CHARITABLE GIVING

Personal Significance

One of the most welcomed opportunities of success is the chance to make significant financial contributions to charitable organizations, institutions, and your community. Your Wealth Management team helps to achieve creative charitable solutions that enable you to realize your philanthropic objectives. Together, we’ll work with you to develop an appropriate strategy that matches your goals.

Like Personal Trusts, several Charitable Trust options are available.

Charitable Remainder Trusts (CRT)

These trusts allow you to continue to enjoy income from assets you place in trust with the remainder of the trust assets going to the charity when the trust terminates.

Charitable Lead Trusts (CLT)

The reverse of a CRT, these trusts allow you to provide income to a charity for a set period of time with the remaining assets passing to your beneficiaries—or even you—at the end of the trust’s term.

Wealth Replacement Trusts (WRT)

Establishing a Wealth Replacement Trust can provide your family with an inheritance while you retain the income and charitable deduction advantages of a Charitable Remainder Trust. At the time you fund a CRT, you may also establish a Wealth Replacement Trust funded with a life insurance policy naming the WRT as beneficiary. Insurance death benefits can pass to your heirs free of both income and estate taxes and your original gift made to the CRT passes on to the charity you wish to support.

Private Foundations

A private foundation may be the perfect answer for the maximum control of your gift of charitable assets. You will be able to pursue charitable purposes, support innovative organizations and leverage the value of contributions to multiple organizations.

The advantages of a charitable foundation can come with drawbacks. There are complex rules governing the reporting and operations of the foundation. Your Charitable Services Advisor, working with your attorney, can explain these requirements in-depth and can provide guidance to minimize the impact on the foundation’s trustees.

Your Wachovia Wealth Management team, together with your personal attorney, can help you evaluate these, and many other kinds of trusts, gift annuities, foundations, supporting organizations and other charitable vehicles based on your situation and objectives.

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Services from Wachovia Wealth Management may not be available in all states.

Wachovia does not provide legal or tax advice. Be sure to consult with your own tax and legal advisors before taking any action that would have tax consequences. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.

Trust services are offered through Wachovia Bank, N.A. (Wachovia), a national banking association and subsidiary of Wachovia Corporation, or Delaware Trust Company, N.A., a subsidiary of Wachovia. Trusts that have their situs in and are governed by the law of Delaware use Delaware Trust Company as the trustee. Wachovia Trust is a brand name for the trust services offered by Wachovia. Wachovia Trust does not provide legal or tax advice.