Charitable Lead Annuity Trust

Charitable Lead Annuity Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Charitable Lead Annuity Trust

Charitable Lead Annuity Trust definition:  A charitable organization receives annual income from the trust, reducing the grantor’s taxable income by the amount donated to charity. The annual income withdrawn is specified as a fixed dollar amount or percentage of the initial value.  The term of the trust may be for a fixed number of years or a persons lifetime. When the trust expires, the remaining amount in the trust is transferred to a beneficiary and is subject to gift or estate taxes.

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