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.
Contra Costa California Inter Vivos Granter Charitable Lead Annuity Trust is a legal and financial arrangement that allows individuals to support charitable causes while still providing for their beneficiaries. This trust operates in Contra Costa County, California. A charitable lead annuity trust is a type of trust in which a granter transfers assets into the trust, to be managed by a designated trustee. The trust then pays a fixed annuity to one or more charitable organizations specified by the granter for a predetermined period. At the end of the period, the remaining trust assets are distributed to one or more non-charitable beneficiaries, typically individuals or family members. This inter vivos (meaning "between the living") granter charitable lead annuity trust is established during the granter's lifetime, allowing them to see the impact of their charitable contributions. Unlike a testamentary trust, which is established through a will and takes effect upon the granter's death, an inter vivos trust offers immediate benefits. There may be variations or subtypes of Contra Costa California Inter Vivos Granter Charitable Lead Annuity Trust, such as: 1. General Charitable Lead Annuity Trust: In this type of trust, the charitable annuity payment remains constant throughout the predetermined period. 2. Granter Retained Annuity Trust (GREAT): This trust allows the granter to receive annuity payments for a set period before the remaining assets are transferred to charitable beneficiaries. 3. Granter Retained Income Trust (GRIT): Similar to GREAT, this trust provides the granter with income payments for a specified period, after which the assets go to charitable beneficiaries. 4. Non-Grantor Charitable Lead Annuity Trust: In this trust, the granter does not retain control over the trust assets or receive any annuity payments but sets up the trust solely for charitable purposes. By establishing a Contra Costa California Inter Vivos Granter Charitable Lead Annuity Trust, individuals can support charitable causes close to their hearts while potentially gaining financial and tax benefits. This arrangement allows them to leave a lasting legacy while ensuring the financial well-being of their loved ones.Contra Costa California Inter Vivos Granter Charitable Lead Annuity Trust is a legal and financial arrangement that allows individuals to support charitable causes while still providing for their beneficiaries. This trust operates in Contra Costa County, California. A charitable lead annuity trust is a type of trust in which a granter transfers assets into the trust, to be managed by a designated trustee. The trust then pays a fixed annuity to one or more charitable organizations specified by the granter for a predetermined period. At the end of the period, the remaining trust assets are distributed to one or more non-charitable beneficiaries, typically individuals or family members. This inter vivos (meaning "between the living") granter charitable lead annuity trust is established during the granter's lifetime, allowing them to see the impact of their charitable contributions. Unlike a testamentary trust, which is established through a will and takes effect upon the granter's death, an inter vivos trust offers immediate benefits. There may be variations or subtypes of Contra Costa California Inter Vivos Granter Charitable Lead Annuity Trust, such as: 1. General Charitable Lead Annuity Trust: In this type of trust, the charitable annuity payment remains constant throughout the predetermined period. 2. Granter Retained Annuity Trust (GREAT): This trust allows the granter to receive annuity payments for a set period before the remaining assets are transferred to charitable beneficiaries. 3. Granter Retained Income Trust (GRIT): Similar to GREAT, this trust provides the granter with income payments for a specified period, after which the assets go to charitable beneficiaries. 4. Non-Grantor Charitable Lead Annuity Trust: In this trust, the granter does not retain control over the trust assets or receive any annuity payments but sets up the trust solely for charitable purposes. By establishing a Contra Costa California Inter Vivos Granter Charitable Lead Annuity Trust, individuals can support charitable causes close to their hearts while potentially gaining financial and tax benefits. This arrangement allows them to leave a lasting legacy while ensuring the financial well-being of their loved ones.
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.
