Give It Twice Trust

The university's gift planner explained that a give it twice trust would allow her to first provide income to her children through the trust, and then transfer the remaining trust balance to UVU to support scholarships for first-generation students.

• June: "Before my husband Fred passed away, we talked about our estate plans. We agreed that we wanted to treat each of our three children equally and that we wanted to give back to UVU, which gave me so much as a first-generation college student."

The gift planner told June that she could use her $800,000 estate to make a meaningful impact for both her family and UVU. June was concerned because while her two oldest children are financially responsible, her youngest, Jim, "spends money like water." She worried that a lump sum inheritance might be quickly squandered.

The planner explained that the give it twice trust could be a great solution. June could set up her estate to transfer $400,000 from her IRA to the trust upon her passing. Each of her children would receive one-third of the income from the trust over 20 years. This structure would help Jim learn to manage money over time while still providing for all three children equally. After 20 years, the remaining trust balance would be transferred to UVU to fund scholarships for first-generation students.

Additionally, by using her IRA, June could save on income tax because the special trust is tax-exempt.

• June: "I established a give it twice trust and was thrilled with the plan. The prospect of helping my children and supporting first-generation students at UVU made me happy, and I knew it was the right thing to do."

What is a give it twice trust?

A give it twice trust, also known as a testamentary charitable remainder trust, is a thoughtful planned giving option that allows you to transfer your IRA or other assets as part of your estate plan. This type of trust provides income to loved ones for a set number of years, and then directs the remaining balance to a nonprofit organization-allowing you to support both your family and a cause you care deeply about.

Is a give it twice trust right for you?

The give it twice trust can be an invaluable part of any estate plan. We would welcome the opportunity to talk to you about how this trust could benefit your family. Please give us a call to discuss this important estate planning and giving strategy.

Please note: The information above is representative of a typical donor and may or may not be an actual donor to our organization. Since your benefits may be different, you may want to create a printable illustration of your income and tax benefits with the calculator on this page.