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Not at all! While it can be a great option for those with larger estates, people with more modest assets can also take part.
Generally, once the trust is set up and the charity is named, you can't change it, but check with your lawyer as rules may vary.
You can enjoy a steady income, support a good cause, and possibly get some tax benefits all at the same time.
Anyone who wants to support a charity and also receive income from their assets can set it up, but it's best to talk to a financial advisor first.
It's a special trust that lets you give to charity while still getting some income from your assets during your lifetime.