Unitrusts: An option for future giving
To establish a unitrust, a donor transfers property to a trust, while retaining the right to receive payments from the trust for a term he or she has chosen. The payments may continue for the lifetime of the trust's named beneficiaries, a fixed term of not more than 20 years, or a combination of the two. Usually, the term is for the donor's life and the life of the donor's spouse. When the term ends, the trust estate is paid to the donor's chosen public charity or, in this case, the Community Foundation.