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Charitable Trust
(redirected from Charitable Purposes)

   Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.01 sec.
Charitable Trust
An irrevocable trust into which the grantor deposits assets, with at least some of the proceeds going to a charity. There are two types of charitable trusts. In a charitable lead trust, the income from the investment of the assets in the trust goes to a designated charity for a certain period of time. After that time expires, the remainder of the assets and income are given to the trust's beneficiaries. In a charitable remainder trust, the income from the assets goes to the beneficiaries for a certain period of time, after which the assets themselves are donated to charity. In the United States, both types of charitable trust receive favorable treatment for estate tax purposes.


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It is the division's responsibility to insure that funds donated for charitable purposes continue to be used for those purposes.
Pemsel) established that the only charitable purposes that the law recognizes are trusts that (1) advance religion, (2) relieve poverty, (3) advance education or (4) are purposes that are for the public benefit and which the courts have approved as charitable, health promotion being an example.
The Articles are replete with references to charitable purposes and providing Medical Care to indigents with lees for indigents ranging from no fees whatsoever, to fifty-five percent of the charge for services provided after adjustments.
 
 
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