It is not uncommon for individuals to want to leave part or all of their estate to charitable organizations. If this is an action that interests Maryland residents, they may wish to find out more information on charitable trusts. These trusts could be used to distribute funds to charities in the manner detailed in the terms of the trusts.
One type of charitable trust is a charitable remainder trust, or CRT. With a CRT, and other types of trusts, individuals put funds or assets into the trust, and the money from that trust is paid back to the individuals or to other non-charitable people or organizations. When the trust's term is up -- often when the creator dies -- the remaining funds in the trust are then distributed to the charitable organizations designated by the benefactor.