Larry McClanahan, Financial Advisor
As a beneficiary, there is typically nothing you'll need to do beyond keeping the trustee informed of your contact information. The trust is likely one of two types:
Charitable Lead Trust - With a CLT, the charity will receive an income stream for a certain number of years, and you (and any other beneficiaries) will then receive the remainder. If the charity's income stream is the same every year, it's a Charitable Lead Annuity Trust (CLAT). If the charity's income stream varies each year according to account values, it's a Charitable Lead Unitrust (CLUT).
Charitable Remainder Trust - With a CRT, you will receive the income stream for life or a fixed number of years, and the charity(ies) will then receive the remainder. If your income stream is fixed, it's a Charitable Remainder Annuity Trust (CRAT). If your income stream varies, it's a Charitable Remainder Unitrust (CRUT).
I hope that helps and wish you all the best.
Bob Maloney, MSFS, AEP, MSFS, AEP
Speaking for myself, I have never heard of a charitable financial trust. Please go back to the trust document and double check to see if it is either a "Charitable Remainder Trust" or a "Charitable Unitrust". In one case, you would be the income beneficiary during life with the remainder going to charity at your death or in the alternative, the charity will receive distributions for a fixed period of time and when the time lapses, the trust distributes the remainderman to you. I hope this helps a little bit. Please consider coming back with a slightly different question and alittle more detail. Good luck
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