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.
San Antonio Texas Inter Vivos Granter Charitable Lead Annuity Trust is a legal and financial instrument commonly used for estate planning purposes in the state of Texas. This type of trust allows individuals, known as granters, to make charitable contributions while also providing a stream of income to designated beneficiaries. Keywords: San Antonio, Texas, Inter Vivos Granter, Charitable Lead Annuity Trust, estate planning, legal, financial instrument, charitable contributions, income beneficiaries. There are several types of San Antonio Texas Inter Vivos Granter Charitable Lead Annuity Trust, including: 1. Charitable Lead Unit rust (CLUB): This type of trust is designed to provide a fixed percentage of the trust's value to charitable organizations annually. The income generated from the trust assets is determined each year based on the trust's revalued value. 2. Charitable Lead Annuity Trust (FLAT): In this type of trust, a fixed annual payment or annuity is provided to one or more charitable organizations, as specified by the granter. The charitable beneficiaries receive a predetermined amount each year, regardless of the trust's performance. 3. Charitable Lead Annuity Trust with a Flip-Provision (FLIP-CLAT): This trust allows the granter to switch the income beneficiaries from charitable organizations to non-charitable individuals, such as family members, after a predefined event occurs, such as the death of the granter or a specific date. 4. Granter Retained Annuity Trust (GREAT): Although not specific to charitable giving, a GREAT is another variant of inter vivos trusts that allows the granter to retain an annuity payment for a specified period while transferring the remainder to beneficiaries, either charitable or non-charitable, at the end of the trust term. It is essential to consult with an estate planning attorney or financial advisor to determine the most suitable type of San Antonio Texas Inter Vivos Granter Charitable Lead Annuity Trust that aligns with your philanthropic goals and overall estate planning needs.San Antonio Texas Inter Vivos Granter Charitable Lead Annuity Trust is a legal and financial instrument commonly used for estate planning purposes in the state of Texas. This type of trust allows individuals, known as granters, to make charitable contributions while also providing a stream of income to designated beneficiaries. Keywords: San Antonio, Texas, Inter Vivos Granter, Charitable Lead Annuity Trust, estate planning, legal, financial instrument, charitable contributions, income beneficiaries. There are several types of San Antonio Texas Inter Vivos Granter Charitable Lead Annuity Trust, including: 1. Charitable Lead Unit rust (CLUB): This type of trust is designed to provide a fixed percentage of the trust's value to charitable organizations annually. The income generated from the trust assets is determined each year based on the trust's revalued value. 2. Charitable Lead Annuity Trust (FLAT): In this type of trust, a fixed annual payment or annuity is provided to one or more charitable organizations, as specified by the granter. The charitable beneficiaries receive a predetermined amount each year, regardless of the trust's performance. 3. Charitable Lead Annuity Trust with a Flip-Provision (FLIP-CLAT): This trust allows the granter to switch the income beneficiaries from charitable organizations to non-charitable individuals, such as family members, after a predefined event occurs, such as the death of the granter or a specific date. 4. Granter Retained Annuity Trust (GREAT): Although not specific to charitable giving, a GREAT is another variant of inter vivos trusts that allows the granter to retain an annuity payment for a specified period while transferring the remainder to beneficiaries, either charitable or non-charitable, at the end of the trust term. It is essential to consult with an estate planning attorney or financial advisor to determine the most suitable type of San Antonio Texas Inter Vivos Granter Charitable Lead Annuity Trust that aligns with your philanthropic goals and overall estate planning needs.
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.
