A Grantor Charitable Lead Annuity Trust (CLAT) is an irrevocable split-interest trust that provides for a specified amount to be paid to one or more charitable beneficiaries during the term of the trust. The principal remaining in the trust at the end of the term is paid over to, or held in a continuing trust for, a non-charitable beneficiary or beneficiaries identified in the trust. If the terms of a CLAT created during the donor's life satisfy the applicable statutory and regulatory requirements, a gift of the charitable lead annuity interest will qualify for the gift tax charitable deduction under § 2522(c)(2)(B) and/or the estate tax charitable deduction under § 2055(e)(2)(B). In certain cases, the gift of the annuity interest may also qualify for the income tax charitable deduction under § 170(a). The value of the remainder interest is a taxable gift by the donor at the time of the donor's contribution to the trust.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
An Alameda California Inter Vivos Granter Charitable Lead Annuity Trust is a specific type of charitable trust established by a granter during their lifetime. This trust allows the granter to transfer assets to a charitable organization while retaining an annuity interest in the trust's income. Alameda, California, being the location where the trust is established, follows the laws and regulations outlined by the state. The Inter Vivos Granter Charitable Lead Annuity Trust is recognized as a useful estate planning tool for individuals who wish to have their assets benefit charitable causes while still receiving income during their lifetime. By creating an Alameda California Inter Vivos Granter Charitable Lead Annuity Trust, the granter can name a charitable organization as the trust's beneficiary. This charity will receive an annual fixed annuity payment from the trust's income for a predetermined period, which is typically a specified number of years. There are a few different types or variations of the Alameda California Inter Vivos Granter Charitable Lead Annuity Trust, including: 1. Non-Grantor Charitable Lead Annuity Trust: In this type of trust, the granter is not considered the owner of the trust for tax purposes. The trust generates a charitable deduction for income tax purposes, but the granter does not receive any deductions. 2. Granter Charitable Lead Annuity Trust: This trust is structured so that the granter retains ownership for income tax purposes. As the granter, you can claim a charitable deduction for a portion of the trust's annual payments to charity, which may help reduce your income tax liability. 3. Charitable Lead Unit rust Annuity Trust: Unlike the standard annuity trust, this variation allows the annuity payment to fluctuate based on the value of the trust assets each year. The percentage is typically predetermined, ensuring that the charitable organization receives a set portion of the trust's value annually. Creating an Alameda California Inter Vivos Granter Charitable Lead Annuity Trust requires careful consideration and planning. It is advisable to consult with legal and financial professionals experienced in charitable trusts to ensure compliance with applicable laws and to optimize the financial benefits for both the granter and the chosen charitable organization.An Alameda California Inter Vivos Granter Charitable Lead Annuity Trust is a specific type of charitable trust established by a granter during their lifetime. This trust allows the granter to transfer assets to a charitable organization while retaining an annuity interest in the trust's income. Alameda, California, being the location where the trust is established, follows the laws and regulations outlined by the state. The Inter Vivos Granter Charitable Lead Annuity Trust is recognized as a useful estate planning tool for individuals who wish to have their assets benefit charitable causes while still receiving income during their lifetime. By creating an Alameda California Inter Vivos Granter Charitable Lead Annuity Trust, the granter can name a charitable organization as the trust's beneficiary. This charity will receive an annual fixed annuity payment from the trust's income for a predetermined period, which is typically a specified number of years. There are a few different types or variations of the Alameda California Inter Vivos Granter Charitable Lead Annuity Trust, including: 1. Non-Grantor Charitable Lead Annuity Trust: In this type of trust, the granter is not considered the owner of the trust for tax purposes. The trust generates a charitable deduction for income tax purposes, but the granter does not receive any deductions. 2. Granter Charitable Lead Annuity Trust: This trust is structured so that the granter retains ownership for income tax purposes. As the granter, you can claim a charitable deduction for a portion of the trust's annual payments to charity, which may help reduce your income tax liability. 3. Charitable Lead Unit rust Annuity Trust: Unlike the standard annuity trust, this variation allows the annuity payment to fluctuate based on the value of the trust assets each year. The percentage is typically predetermined, ensuring that the charitable organization receives a set portion of the trust's value annually. Creating an Alameda California Inter Vivos Granter Charitable Lead Annuity Trust requires careful consideration and planning. It is advisable to consult with legal and financial professionals experienced in charitable trusts to ensure compliance with applicable laws and to optimize the financial benefits for both the granter and the chosen charitable organization.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
