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WebTexas law defines a charitable trust as “a charitable entity, a trust the stated purpose of which is to benefit a charitable entity, or an inter vivos or testamentary gift to a charitable entity.” Tex. Prop. Code § 123.001(2). Charitable trusts are the oldest form of nonprofit 1 The author wishes to thank Megan A. Cunningham for her WebWhat is a charitable trust? In very basic terms, a charitable trust is a form of legal vehicle which allows the transfer of gifts from an individual, family or corporation to a charity. It is created when an initial sum of money is settled on the trust, usually by a wealthy benefactor who, in doing so, relinquishes all rights to the funds. dinner at the ritz carlton
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