Philanthropy, Charitable Trust and Donor Advised Funds–giving money and limiting the trust litigation

OK, so you are wealthy and living in Palm Beach Gardens, Florida, or you at least you have a few Million Dollars and want to leave some to charity.  You better read this Wall Street Journal article from August 23, 2014.

Charitable Trusts in Florida, Florida Probate & Charitable Giving

• If you are not going to give away money during your lifetime,
• You are probably being “sold” charitable remainder trusts, which I believe is the absolute worst thing you can do.
• The best estate plan or financial plan or charitable plan?  Give ’em the money now!
• If not, and if you insist that they wait til your death, consider this recent article on Philanthropy and charitable gift funds
• Consdier Vanguard.  www.vanguard.com.
• Read this article on charitable planning, or charitable giving by Wall Street Journal writer Laura Saunders. It’s excellent.
• Here’s the link:  http://online.wsj.com/articles/tax-smart-philanthropy-made-easy-1408728248

Why?  If you go with a charitable remainder trust, there’s a chance that the lifetime bene won’t like this, and the charity will prefer to have its money now, without waiting…… and everyone ends up spending money on trust litigators in Palm Beach.