Trust planning services
Create a Legacy through Giving
Our clients turn to us when they want to create legacy plans to benefit the non-profit organizations most important to them. Many of our clients want to see their capital allocated to social causes that improve the collective well-being of their communities, specifically in Tampa. Our team can help you allocate funds to the causes of your choice and show you strategies that can work to lower your overall tax burden.
Over the course of our lives, we all develop different views of the world. For some, that means prioritizing family first; for others, it may mean emphasizing charitable giving, supporting local Tampa Bay nonprofits, or funding education and healthcare initiatives that reflect their core values. In many cases, we choose to give back to the great institutions of art, sciences, government, and education that gave us so much throughout our lifetime. Whatever it is, we’ll help you give something back to the communities that helped you to flourish.
Presently, the tax code offers incentives for gifting one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.
Oftentimes, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies. By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate. Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.
Charitable Remainder Trust
A remainder trust enables the donor to transfer an asset while retaining the right to the income it generates. The asset becomes the “remainder” which is owned by the charity. Remainder trusts, if properly structured, can qualify for a current tax deduction. By working with experienced professionals familiar with Florida trust law and federal tax rules, you can evaluate whether a charitable remainder trust may help you meet both philanthropic and financial planning goals. There are three types of remainder trusts: in each case, our trust planning services include walking you through illustrative examples, projecting potential income streams, and helping you determine which structure best aligns with your risk tolerance, time horizon, and legacy objectives.
Unitrust: A unitrust the income the donor receives is based on a percentage of the current fair market valuation of a trust asset. Each year, as the asset is valued, the income is adjusted based on the new valuation, and our team can help you understand how different investment strategies within the trust may impact both your current income and the eventual remainder that passes to your chosen beneficiaries or charities..
Annuity Trust: Instead of a percentage of the asset value, the donor is paid a fixed amount annually. Many Tampa retirees appreciate the predictability of an annuity trust, as it can complement Social Security and other retirement income sources by providing a stable, scheduled payment that does not fluctuate with market volatility.
Pooled Income Fund: Donors can pool their donated assets in a fund that is operated by a charitable organization. This approach allows Tampa residents to participate alongside other donors in a professionally managed investment pool, often with lower minimum contribution requirements than establishing an individual charitable trust. The donors then receive a proportionate share of income from the fund that is paid throughout their lifetime. At the end of that period, the remaining assets are distributed to the designated charity or charities, making pooled income funds an efficient way to combine income needs with charitable intent in your broader estate and trust planning strategy. Payments can vary each year based on the valuation of the underlying assets in the fund.
Charitable Lead Trust
Also known as an Income Trust this vehicle transfers the income rights to the charitable organization. With a charitable lead trust, the selected charity receives income first for a defined number of years, supporting causes you care about in Tampa or beyond while potentially reducing the value of your taxable estate. Generally, the income rights are assigned for a specified period of time after which the remainder passes to the donor. This structure can help shift future appreciation on assets out of your estate and into the hands of your heirs or back to you, making it a sophisticated tool for Tampa families looking to balance philanthropy, tax efficiency, and multigenerational wealth transfer.
Charitable planning involves tax issues that should be discussed with a qualified tax professional.
LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial, giving Tampa clients the ability to combine personalized financial planning with professional trust administration, investment oversight, and coordinated estate strategies under one integrated service experience..
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