A Contractor Charitable Lead Annuity Trust (FLAT) is a type of trust used for the purpose of making charitable donations. The trust is funded with assets, such as cash, stock, or real estate, and the income generated from these assets is then paid to a designated charity for a fixed period of time. After the specified time period, the remainder of the trust’s assets are distributed to the trust’s noncharitable beneficiaries, such as an individual, family, or business. The main types of Class are Net Income Class (Nicolas) and Unit rust Class (Class). A NIC LAT is a type of trust that provides a fixed amount of income to the charity from the trust’s assets, minus expenseaccoststULLLLLLC LCLCL AATAT is a type of trust that provides a fixed percentage of the trust’s assets to the charity each year. The percentage is determined at the time the trust is created and remains fixed throughout the life of the trust.
Nongrantor Charitable Lead Annuity Trust
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