About Revocable Living Trusts

Give Now and Create Future Memories for Music Lovers
A revocable living trust can provide you numerous benefits during your lifetime while providing the Philharmonic with significant support for future programs and activities. When you establish a living trust, you transfer your assets into the trust, assign one or more trustees to help manage the assets, and assign the Philharmonic as the beneficiary. Also known as an “inter vivos” (Latin for between the living) trust, a properly drafted revocable living trust clearly outlines how you want your property managed during your lifetime and how you wish your assets to be distributed after your death. As with any other estate planning decision, it is important to seek the guidance of your attorney and financial advisors prior to establishing a trust.

A Flexible Giving Vehicle with Clear Benefits
With a revocable living trust, you can make changes to the trust whenever you wish, or even reclaim property that was previously transferred into the trust. A living trust can also remain in place to benefit your children, grandchildren or other beneficiaries. In such cases, a successor trustee such as a bank is typically appointed to manage the trust. One of the greatest benefits of a revocable living trust is that it avoids the probate process, thus greatly reducing estate taxes for your heirs.

When establishing a revocable living trust, you may also choose to direct your assets toward a specific Orchestra program or activity that is particularly close to your heart. Our Director of Planned Gifts will be glad to speak with you about these types of opportunities and to answer any other questions you may have about how a revocable living trust can best be used to support the Philharmonic.