What happens to my assets in a trust for a charity if the charity goes out of business before the expiration of the trust? Your trustee is authorized to name a substitute, if that is the sole charity.
Should I name a charity as trustee of my charitable remainder trust? This is often done if the organization is qualified to so act under local law. The organization's representatives can satisfy you in that regard. Often they will serve without fee, which is an additional incentive.
How often should I update my will or trust? These documents should be updated any time your financial or your family circumstances change. As laws vary from state to state, if you move you should have an attorney licensed in and familiar with the new state's laws review your will or trust agreement. It is always wise, even if there are not any significant changes in your circumstances, to periodically review these important documents. A good rule of thumb is to review your will every three years. You should also review your will if there are any significant changes in law.
Can I use my insurance to benefit charitable organizations? Yes. This is an area overlooked by many. You can name one or more charities as alternate or as primary beneficiary. Furthermore, if you no longer need the policy proceeds in your estate for use now, you can transfer ownership of the policy to the charity or charities. If the policy has cash loan value, the charity can draw this out and use it. In this case, you not only receive a charitable gift deduction, but any additional premiums you pay are tax deductible for you now. And, on your death, the charity receives the balance of the policy proceeds and none of it is included in your estate for tax purposes.
How can I fund a charitable gift annuity and how is my income calculated? The usual funding sources for a charitable gift annuity are cash and marketable securities. There can be tax benefits associated with the gift of appreciated securities (the current market value exceeds the cost or basis value). As a gift annuity is considered partially a gift and partially an annuity, part of the gift avoids capital gains tax entirely. Real estate and other marketable assets may also be used. Generally, the charity will convert the assets to cash to fund the annuity.
The income provided you by the annuity is determined by your age and the age of any additional beneficiary and is calculated using tables established and filed with regulatory agencies under which the charity operates its annuity program.
Can
I set up a charitable gift annuity and delay the start of the income until
I will more likely need it, such as at my retirement, when my income is
lower? Yes, there is flexibility in the establishing of charitable
gift annuities that make them a popular and effective retirement planning
vehicle. Using a deferred gift annuity, the annuity earnings accumulate
on a tax-deferred basis. Thus the deferred payment annuity accomplishes
several things. 
First,
the donor receives a tax deduction in the year the annuity is established,
which is usually when the donor is in a higher tax bracket. Secondly,
the gift to the charity becomes larger as the deferred earnings increase
the annuity's principal. Finally, since the deferred payment annuity grows
in size while income is deferred, the ultimate income will be more per
year.