People in Virginia who are thinking about the future may consider how they can incorporate their favorite charities into their plans for their estates. Many people set goals for philanthropic and charitable giving during their lifetime, and they want it to continue after they have passed on. Philanthropy can provide important practical benefits in addition to a sense of well-being. By donating to charity, individuals can benefit from tax relief annually. This tax relief can also come as a boon to the beneficiaries of a person's estate.
There are many reasons why Virginia estate holders may want to create trusts. One major reason may be for the avoidance of probate. You may also want to state the terms of the distribution to your beneficiaries as opposed to them receiving all your assets outright at once.