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.
The San Jose California Inter Vivos Granter Charitable Lead Annuity Trust is a legal entity established within the state of California that allows individuals to contribute funds for charitable purposes while providing potential tax benefits. This type of trust operates specifically in San Jose, California, ensuring compliance with state laws and regulations. The Inter Vivos Granter Charitable Lead Annuity Trust is designed to benefit a charitable organization through regular annuity payments while allowing the granter to retain some control over the trust assets during their lifetime. This type of trust is considered "inter vivos," meaning it is established during the granter's lifetime rather than through a will or other posthumous arrangement. Here are some relevant keywords associated with the San Jose California Inter Vivos Granter Charitable Lead Annuity Trust: 1. Granter: The individual who creates the trust and contributes assets to it, retaining control over the trust's operation. 2. Charitable Lead Annuity Trust: A specific type of trust where regular annuity payments are made to a charitable organization for a fixed term or until the granter's passing. 3. San Jose, California: The geographical location where this trust is established and operates, subject to local laws and regulations. 4. Tax Benefits: Individuals may be eligible for tax deductions when contributing assets to a charitable lead annuity trust, potentially reducing their taxable income. 5. Charitable Organization: The designated recipient of the annuity payments, often a non-profit entity or foundation that carries out charitable activities. 6. Compliance: Ensuring that the trust adheres to relevant laws and regulations set forth in San Jose, California, to maintain its validity and effectiveness. It's important to note that while the San Jose California Inter Vivos Granter Charitable Lead Annuity Trust generally refers to this specific trust type, there might be various variations or customized versions of this trust depending on the specific needs and goals of the granter.The San Jose California Inter Vivos Granter Charitable Lead Annuity Trust is a legal entity established within the state of California that allows individuals to contribute funds for charitable purposes while providing potential tax benefits. This type of trust operates specifically in San Jose, California, ensuring compliance with state laws and regulations. The Inter Vivos Granter Charitable Lead Annuity Trust is designed to benefit a charitable organization through regular annuity payments while allowing the granter to retain some control over the trust assets during their lifetime. This type of trust is considered "inter vivos," meaning it is established during the granter's lifetime rather than through a will or other posthumous arrangement. Here are some relevant keywords associated with the San Jose California Inter Vivos Granter Charitable Lead Annuity Trust: 1. Granter: The individual who creates the trust and contributes assets to it, retaining control over the trust's operation. 2. Charitable Lead Annuity Trust: A specific type of trust where regular annuity payments are made to a charitable organization for a fixed term or until the granter's passing. 3. San Jose, California: The geographical location where this trust is established and operates, subject to local laws and regulations. 4. Tax Benefits: Individuals may be eligible for tax deductions when contributing assets to a charitable lead annuity trust, potentially reducing their taxable income. 5. Charitable Organization: The designated recipient of the annuity payments, often a non-profit entity or foundation that carries out charitable activities. 6. Compliance: Ensuring that the trust adheres to relevant laws and regulations set forth in San Jose, California, to maintain its validity and effectiveness. It's important to note that while the San Jose California Inter Vivos Granter Charitable Lead Annuity Trust generally refers to this specific trust type, there might be various variations or customized versions of this trust depending on the specific needs and goals of the granter.
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.
