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.
Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust is a unique estate planning tool that allows individuals in Broward County, Florida, to support charitable causes while also providing for their beneficiaries. It is structured as an irrevocable trust, meaning that once it is established, the granter cannot change its terms or reclaim assets placed into the trust. This specific type of trust is known as a charitable lead annuity trust (FLAT). Class are designed to benefit both charitable organizations and non-charitable beneficiaries, such as family members or loved ones. The trust provides an income stream to a chosen charitable cause for a set period of time, after which the remaining assets are passed on to the non-charitable beneficiaries. The Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust offers several benefits, making it an attractive option for individuals looking to align their philanthropic goals with their estate planning objectives. By establishing this trust, individuals can: 1. Support charitable causes: The trust allows the granter to make significant contributions to charitable organizations in Broward County, Florida, that align with their values and passions. These contributions can have a lasting impact on the community and help support various causes such as education, healthcare, the environment, and more. 2. Reduce estate taxes: Since the assets placed into the trust eventually pass to non-charitable beneficiaries, they may be eligible for certain tax benefits. By leveraging the tax-exempt status of charitable organizations, the granter may be able to minimize estate taxes and preserve more wealth for their loved ones. 3. Maintain control over assets: Despite the trust being irrevocable, the granter still retains a level of control over the assets during their lifetime. They can choose the charitable organizations to support, specify the percentage or fixed amount of income to be distributed to these organizations, and decide the duration of the trust. It's important to note that there may be variations in the Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust, depending on specific legal requirements or individual circumstances. These variations may include the length of the charitable income period, the charitable beneficiaries, the assets contributed to the trust, and more. Consulting an experienced estate planning attorney specializing in philanthropic strategies is crucial to tailor the trust to one's unique needs and objectives. In summary, the Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust is an effective method for individuals in Broward County to support charitable causes while also providing for their loved ones. Through this trust, they can leave a lasting philanthropic legacy and potentially gain estate tax benefits.Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust is a unique estate planning tool that allows individuals in Broward County, Florida, to support charitable causes while also providing for their beneficiaries. It is structured as an irrevocable trust, meaning that once it is established, the granter cannot change its terms or reclaim assets placed into the trust. This specific type of trust is known as a charitable lead annuity trust (FLAT). Class are designed to benefit both charitable organizations and non-charitable beneficiaries, such as family members or loved ones. The trust provides an income stream to a chosen charitable cause for a set period of time, after which the remaining assets are passed on to the non-charitable beneficiaries. The Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust offers several benefits, making it an attractive option for individuals looking to align their philanthropic goals with their estate planning objectives. By establishing this trust, individuals can: 1. Support charitable causes: The trust allows the granter to make significant contributions to charitable organizations in Broward County, Florida, that align with their values and passions. These contributions can have a lasting impact on the community and help support various causes such as education, healthcare, the environment, and more. 2. Reduce estate taxes: Since the assets placed into the trust eventually pass to non-charitable beneficiaries, they may be eligible for certain tax benefits. By leveraging the tax-exempt status of charitable organizations, the granter may be able to minimize estate taxes and preserve more wealth for their loved ones. 3. Maintain control over assets: Despite the trust being irrevocable, the granter still retains a level of control over the assets during their lifetime. They can choose the charitable organizations to support, specify the percentage or fixed amount of income to be distributed to these organizations, and decide the duration of the trust. It's important to note that there may be variations in the Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust, depending on specific legal requirements or individual circumstances. These variations may include the length of the charitable income period, the charitable beneficiaries, the assets contributed to the trust, and more. Consulting an experienced estate planning attorney specializing in philanthropic strategies is crucial to tailor the trust to one's unique needs and objectives. In summary, the Broward Florida Inter Vivos Granter Charitable Lead Annuity Trust is an effective method for individuals in Broward County to support charitable causes while also providing for their loved ones. Through this trust, they can leave a lasting philanthropic legacy and potentially gain estate tax benefits.
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.
