Charitable planning has always allowed some great tax benefits for clients with tax trapped assets, and the second benefit, the charitable deduction. What’s a tax trapped asset? Why is the charitable deduction the second benefit and not the first? What are the one-time 2020 rules? Well, that’s the point. Most people don’t understand why these trusts are so often the “go to tool” for so many tax planners. They have many often misunderstood benefits and aren’t really primarily about benefitting the charity at all, but the donor in most designs. Over the next few weeks we will discuss the Charitable Planning Toolbox, starting next week with Donor Advised Funds, and will continue to explore more about these great partnerships between people and charities, and yes, even the IRS, which allows this gem of a tax break.