In this illustration, a family with a medium-sized estate decides to benefit both the family and charity. After mother and father pass away the estate is transferred into a trust. This trust pays income to family members until a total of $500,000 has been distributed as income. Typically, this will take from twelve to fifteen years. After the estate has been given as income to family, the principal is then distributed to the charity. While the family will have to pay tax on the income, it is an excellent way for parents to remember family for a period of years and distribute the balance of their estate to a charity.