date:Sep 18, 2013
d goes to a beneficiary, usually the donors heirs, without any tax bill.
Treasuries tie
The type of Jackie O. trust used by the Waltons doesnt generate a break on income taxes. Instead, the big potential saving is on gift and estate taxes. When a donor sets one up, the IRS assesses how much gift or estate tax is due, based on how much of the trusts assets will end up benefiting charity and how much will go to heirs. Most donors structure the trusts so that the heirs estimated leftover is zero