FundSvcs Community

We have a donor whose mother passed and left money in her CRT for us.  However, the remainder from the CRT didn't come directly to us.  The son converted the CRT into a new family trust with a new name (i.e., Smith Charitable Trust) for the purpose of making distributions to the intended beneficiaries (of which we are one).  Recently, a gift agreement was signed with the son, agreeing to give us $X a year for several years from this new family trust.  The gift agreement has been designated as a "Planned Gift Agreement," but I don't believe it's a planned gift because the disbursement has gone to an intermediary entity (the family trust) and didn't come directly from the CRT -- nor was the CRT previously recorded in or system.

In other words, there is no planned giving vehicle -- the money is just coming from the new trust.  I discussed it with our Director of Planned Giving and he didn't even know about this agreement and upon reading the details, didn't see a PG vehicle being used to disburse the money to us either.  My understanding is that for this to be a CRT planned gift, we would've had to record the CRT while the mother was alive.  I believe this is just a standard pledge where the family trust is now the donor.  But the agreement has already signed (as a "planned gift") before I even got to view it, so I'd like some opinions on this before I discuss it further internally.  Thank you!

We have a donor whose mother passed and left money in her CRT for us.  However, the remainder from the CRT didn't come directly to us.  The son converted the CRT into a new family trust with a new name (i.e., Smith Charitable Trust) for the purpose of making distributions to the intended beneficiaries (of which we are one).  Recently, a gift agreement was signed with the son, agreeing to give us $X a year for several years from this new family trust.  The gift agreement has been designated as a "Planned Gift Agreement," but I don't believe it's a planned gift because the disbursement has gone to an intermediary entity (the family trust) and didn't come directly from the CRT -- nor was the CRT previously recorded in or system.

In other words, there is no planned giving vehicle -- the money is just coming from the new trust.  I discussed it with our Director of Planned Giving and he didn't even know about this agreement and upon reading the details, didn't see a PG vehicle being used to disburse the money to us either.  My understanding is that for this to be a CRT planned gift, we would've had to record the CRT while the mother was alive.  I believe this is just a standard pledge where the family trust is now the donor.  But the agreement has already signed (as a "planned gift") before I even got to view it, so I'd like some opinions on this before I discuss it further internally.  Thank you!

Good question John, I'll see what I can do.

We have a donor whose mother passed and left money in her CRT for us.  However, the remainder from the CRT didn't come directly to us.  The son converted the CRT into a new family trust with a new name (i.e., Smith Charitable Trust) for the purpose of making distributions to the intended beneficiaries (of which we are one).  Recently, a gift agreement was signed with the son, agreeing to give us $X a year for several years from this new family trust.  The gift agreement has been designated as a "Planned Gift Agreement," but I don't believe it's a planned gift because the disbursement has gone to an intermediary entity (the family trust) and didn't come directly from the CRT -- nor was the CRT previously recorded in or system.

In other words, there is no planned giving vehicle -- the money is just coming from the new trust.  I discussed it with our Director of Planned Giving and he didn't even know about this agreement and upon reading the details, didn't see a PG vehicle being used to disburse the money to us either.  My understanding is that for this to be a CRT planned gift, we would've had to record the CRT while the mother was alive.  I believe this is just a standard pledge where the family trust is now the donor.  But the agreement has already signed (as a "planned gift") before I even got to view it, so I'd like some opinions on this before I discuss it further internally.  Thank you!

Good question John, I'll see what I can do.

We have a donor whose mother passed and left money in her CRT for us.  However, the remainder from the CRT didn't come directly to us.  The son converted the CRT into a new family trust with a new name (i.e., Smith Charitable Trust) for the purpose of making distributions to the intended beneficiaries (of which we are one).  Recently, a gift agreement was signed with the son, agreeing to give us $X a year for several years from this new family trust.  The gift agreement has been designated as a "Planned Gift Agreement," but I don't believe it's a planned gift because the disbursement has gone to an intermediary entity (the family trust) and didn't come directly from the CRT -- nor was the CRT previously recorded in or system.

In other words, there is no planned giving vehicle -- the money is just coming from the new trust.  I discussed it with our Director of Planned Giving and he didn't even know about this agreement and upon reading the details, didn't see a PG vehicle being used to disburse the money to us either.  My understanding is that for this to be a CRT planned gift, we would've had to record the CRT while the mother was alive.  I believe this is just a standard pledge where the family trust is now the donor.  But the agreement has already signed (as a "planned gift") before I even got to view it, so I'd like some opinions on this before I discuss it further internally.  Thank you!