A living trust holds and maintains any assets you name in an agreement. The trust is then administered for the benefit for you and your spouse, if applicable, during your lifetime. In the event of your death, the assets maintained in the trust are managed and distributed according to the instructions you have incorporated into the trust agreement.
A living trust is one method that you can manage funds and investments for our non-profit organization. It also allows you to leave a legacy by providing the assets maintained in your trust to Miller-Keystone Blood Center. It is important to consult your financial advisor or attorney before entering into a living trust agreement.
You can add to living trust agreements or revoke it entirely, any time you wish. This would be called a Revocable Living Trust Agreement. The living trust agreement allows your assets to transfer directly to your heirs without the expense of probate court (depending on how the trust is defined).
Why would I choose a Living Trust?
Some choose to make a living trust to provide for a charitable organization and still be able to manage ones assets. This is a personal decision.
Miller-Keystone Blood Center is a non-profit, 501(c)3 charitable organization, and your contributions are tax-deductible to the extent allowed by the law.