Charitable Trust Modifications

Maybe you had a wonderful time at your local YMCA as a child and perhaps your children went there as well. They might have been a shining light and a positive influence on your life and community. So it makes sense that you'd want to give back to them by possibly making a charitable donation through a charitable trust upon your death. But you should be aware that your money may not end up going to that same local YMCA.

Under California Probate Code Section 15409 a charitable trust could be modified due to changed circumstances. This could mean the intended charity may have dissolved or merged with another entity prior to your death. So, if you as the settlor designate your local YMCA chapter as the beneficiary and it closes down donating all of their remaining assets to the other chapter in the nearest city, that new YMCA could petition the probate court to become the new trust beneficiary.

If you would like additional information on setting up a charitable trust to compensate for changes like in this example, contact a professional Charitable Trust Attorney.


*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.