The Missouri Testamentary Provisions for Charitable Remainder Annuity Trust for Term of Years is a legal framework that allows individuals to establish a charitable remainder annuity trust in their wills. This provision enables a person's assets to generate income for a designated term of years, with the remainder going to a chosen charitable organization or cause. In Missouri, there are two main types of Testamentary Provisions for Charitable Remainder Annuity Trusts for Term of Years. These are: 1. Charitable Remainder Annuity Trust: This type of trust involves transferring assets, such as cash, securities, or real estate, to a designated trustee. The trustee manages these assets, and the income generated from them is paid to the trust's beneficiaries on an annual basis for a specified term of years. The annuity payments remain constant throughout the term, regardless of any fluctuations in the trust's value. 2. Charitable Remainder Unit rust: Unlike the annuity trust, a unit rust's annual payout fluctuates according to the trust's value. The trust reevaluates its assets' fair market value annually, typically a fixed percentage (between 5-7%) of the assets' value is distributed to the beneficiaries. This variation allows for potential growth in the trust's assets, increasing the income distributed each year. Both types of Missouri Testamentary Provisions for Charitable Remainder Annuity Trusts for Term of Years provide several benefits to individuals looking to support charitable causes. Firstly, such provisions allow donors to leave a lasting legacy by ensuring their assets benefit their chosen charity after their passing. Additionally, donors may receive a charitable income tax deduction for their donation, depending on the value of the donated assets and the trust's term. To establish a Missouri Testamentary Provision for Charitable Remainder Annuity Trust for Term of Years, it is essential to consult with an experienced estate planning attorney who can guide individuals through the legal intricacies. The attorney will assist in drafting the necessary testamentary documents, outlining the trust's key provisions, including the designated trustee, beneficiaries, and term of years. Overall, the Missouri Testamentary Provisions for Charitable Remainder Annuity Trust for Term of Years offers individuals an opportunity to support charitable causes while securing income for themselves or their loved ones during a specific term. It is crucial to consider one's financial situation, philanthropic goals, and consult legal professionals to ensure the best possible outcomes for both the donor and the designated charitable organization.