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Give It Twice Trust - Help Family and Charity

You may be looking for a way to provide your children with income while making a gift to the University of Indianapolis. Additionally, studies of inherited wealth have concluded that many children spend lump sum inheritances, whereas they learn to be more responsible with inheritances paid out over time.

The "give it twice" trust is a popular option that allows you to transfer your IRA or other asset at death to fund a term of years charitable remainder unitrust. We call this kind of unitrust a give it twice trust because you can use the trust to pay income first to your family for a number of years and then distribute the balance of the trust to charity.

How a give it twice trust works

1. You establish a charitable remainder unitrust.
2. You complete an IRA or other retirement account beneficiary designation form, naming the charitable trust as the beneficiary.
3. When you pass away, your retirement account will be transferred to the charitable trust.
4. The trust will pay income to your spouse, children or other individual beneficiaries for their life or a term of years.
5. At the conclusion of the payments, the balance of the trust will be transferred to the University of Indianapolis.

Next Steps:

1. Contact UIndy's Office of Gift Planning at 317-791-2553 or [email protected] for additional information on the Give It Twice Trust or to speak with Darcy about which life income gift is right for you.
2. Seek the advice of your financial or legal advisor.