Choose Which Plan is Right for You 1. The same amount can be paid for life to any surviving beneficiary you name. The Salvation Army gets the trust assets at the end of the life income interests when these conditions have been satisfied. Instead of a fixed dollar amount, the trust agreement specifies a percentage of the trust's fair market vale as determined each year, and that is the amount paid to you or another beneficiary. A revocable trust allows you to revoke the trust in case of an emergency, or personal desire.
Experience shows that few people revoke the trust.
Revocable trusts allow you to set up an income payment schedule as well as invade principal as needed. Your assets are pooled into a commingled fund. On the date your gift enters the fund, it is assigned a number of units proportionate to its fair market value. The value of a unit will rise and fall with the market value of the fund's assets. Your income depends on how many units you hold, and how much the fund earned during the year.