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Give It Twice Trust - Help Family and Charity

You may be looking for a way to provide your children with income while making a gift to Missouri State University Foundation. The "give it twice" trust is a popular option that allows you to transfer your IRA or other asset at death to fund a term of years charitable remainder unitrust. We call this kind of unitrust a give it twice trust because you can use the trust to pay income first to your family for a number of years and then distribute the balance of the trust to charity.

Flowchart: Donor designates a unitrust as the beneficiary of an IRA. When donor passes away, the IRA funds are distributed to the unitrust and the unitrust makes payments to children for a number of years. At the end of the trust term, the remainder passes to .

Benefits of a give it twice trust

  • Use the full value of your unused retirement account to provide income to your surviving spouse and to provide income to children or other loved ones for a specified period of time
  • Create an estate tax deduction and savings from the charitable gift
  • Support the important charitable work of Missouri State University Foundation

How a give it twice trust works

  1. Contact your attorney and the Missouri State University Foundation about the process of creating a charitable remainder unitrust.
  2. You complete an IRA or other retirement account beneficiary designation form, naming the charitable trust as the beneficiary, and return the form to the account custodian.
  3. When you pass away, the custodian will transfer your retirement account to the charitable trust.
  4. The trust will pay income to your spouse, children or other individual beneficiaries for their life, term of years or life plus term of years.
  5. At the conclusion of the payments, the balance of the trust will be transferred to Missouri State University Foundation.

Contact us

Your give it twice trust gift may be designated to a college, department or university-wide program of your choice. If you have been so generous as to create a gift plan to Missouri State University Foundation, please let us know. At no personal cost, we will ensure the specified purpose of your gift is documented appropriately with the Missouri State University Foundation, and recognize you and your family for your generosity.

Additional Information

Provides Tax Savings. The gift it twice trust produces income and estate tax savings.

Promotes Fairness. The give it twice trust establishes a mechanism that will help you treat each of your children equally. This can help promote peace in your family.

Teaches Your Children. Give children income rather than a lump sum. Studies of inherited wealth have concluded that many children spend lump sum inheritances, whereas they learn to be more responsible with inheritances paid out over time.

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