A revocable trust that becomes irrevocable upon the death of the decedent-grantor is not considered a charitable trust for a reasonable period of settlement after becoming irrevocable, if both conditions below are met: All unexpired interests in the trust are charitable, and The trust's governing instrument provides that the trustee is required to hold some or all of the net assets in trust (after becoming irrevocable) solely for charitable beneficiaries, Certain rules concerning self-dealing apply, however. After the settlement period, the trust is considered a charitable trust. Return to Life Cycle of a Private Foundation
