Oregon Provision in Testamentary Trust with Bequest to Charity for a Stated Charitable Purpose is a specific clause included in a person's will that creates a trust with the purpose of benefiting a charitable organization or cause in the state of Oregon. This provision outlines the exact instructions and conditions for the administration and distribution of funds or assets to the named charity. There are several variations of the Oregon Provision in Testamentary Trust with Bequest to Charity for a Stated Charitable Purpose, each tailored to meet different objectives or circumstances. Some of these variations include: 1. General Charitable Trust: This type of provision designates a specific charitable organization that will receive the bequest. The trust may specify a certain dollar amount or percentage of the estate's assets to be allocated to the charity. 2. Charitable Remainder Trust: This provision allows for the creation of a trust that benefits both the named charity and non-charitable beneficiaries, such as family members or friends. The trust ensures that the named charity receives a portion of the trust's assets for a specified period or until the occurrence of certain events, after which the remaining assets are distributed to the non-charitable beneficiaries. 3. Charitable Lead Trust: In this type of provision, the named charity receives the income or a fixed percentage of the trust's assets for a certain period, while the remaining assets are ultimately passed on to non-charitable beneficiaries, such as family members, upon the expiration of the trust. 4. Restricted Charitable Trust: This provision ensures that the bequest is used for a specific charitable purpose or project. The trust may limit the charity's use of funds to support a particular program, research, education, or any other cause in line with the donor's wishes. The Oregon Provision in Testamentary Trust with Bequest to Charity for a Stated Charitable Purpose provides a comprehensive framework to ensure the fulfillment of a person's charitable objectives upon their passing. By including this provision in their will, individuals can leave a lasting impact on their community and promote causes they deeply care about in the state of Oregon.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.