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Give It Twice Trust

You may be looking for a way to provide your children with income while supporting IU Health's vision of a healthier Indiana. It establishes a mechanism that will help you treat each of your children equally, promoting peace in your family.

The "give it twice" trust is a popular option that allows you to transfer your IRA or other asset at death to fund a term of years charitable remainder unitrust. We call this kind of unitrust a "give it twice trust" because you can use the trust to pay income first to your family for a number of years and then distribute the balance of the trust to IU Health Foundation.

Flowchart: Donor designates a unitrust as the beneficiary of an IRA. When donor passes away, the IRA funds are distributed to the unitrust and the unitrust makes payments to children for a number of years. At the end of the trust term, the remainder passes to IU Health.

Benefits of a give it twice trust

  • Use the full value of your unused retirement account to provide income to children or other loved ones for a specified period of time.
  • Create an estate tax deduction and savings from the charitable gift.
  • Support IU Health's vision to make Indiana one of the healthiest states in the nation.

How a give it twice trust works

  1. We can help you and your attorney with the process of creating a charitable remainder unitrust.
  2. You complete an IRA or other retirement account beneficiary designation form, naming the charitable trust as the beneficiary.
  3. When you pass away, your retirement account will be transferred to the charitable trust.
  4. The trust will pay income to the trust beneficiaries for their life, lives or a term of years.
  5. At the conclusion of the payments, the balance of the trust will be transferred to IU Health Foundation.

Did you know?

Studies of inherited wealth have concluded that many children spend lump sum inheritances, whereas they learn to be more responsible with inheritances paid out over time.


Contact us

If you have any questions about a give it twice trust, please contact us. We would be happy to assist you and answer any questions you might have.

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