A Tennessee Charitable Remainder Inter Vivos Unit rust Agreement is a legal document that allows individuals to make a charitable contribution while retaining an income for themselves or their beneficiaries. This type of agreement is established during the lifetime of the donor and includes specific provisions regarding their charitable intentions and the distribution of assets upon their death. Keywords: 1. Charitable Remainder Inter Vivos Unit rust: This refers to a trust created during the donor's lifetime that provides income to the donor or beneficiaries, with the remaining assets going to a charitable organization after the donor's death. 2. Tennessee: Indicates that the agreement is specific to the laws and regulations of the state of Tennessee. 3. Agreement: Refers to the legal document that outlines the terms and conditions of the trust. 4. Charitable Contribution: Describes the act of donating assets or funds to a charitable organization. 5. Retained Income: Highlights the benefit of receiving a regular income from the trust's assets during the donor's lifetime or the specified beneficiaries' lifetimes. 6. Beneficiaries: Refers to the individuals who are entitled to receive the income generated by the trust. 7. Distribution of Assets: Describes the process of dividing or allocating the remaining trust assets to the designated charitable organization(s) upon the donor's death. Different Types of Tennessee Charitable Remainder Inter Vivos Unit rust Agreements: While there may not be specific types of these agreements exclusive to Tennessee, there are different variations based on the donor's preferences and circumstances. Some common types include: 1. Charitable Remainder Annuity Trust (CAT): This type of trust provides a fixed annuity income to the donor or beneficiary, based on a predetermined percentage of the initial trust assets. 2. Charitable Remainder Unit rust (CUT): A CUT offers the donor or beneficiary a variable income based on a fixed percentage of the trust's value, which is revalued annually. 3. Net Income Charitable Remainder Unit rust (NICEST): This type of unit rust allows the donor or beneficiary to receive either the trust's net income or a fixed percentage of the trust assets, whichever is lower. 4. Flip Unit rust: A flip unit rust begins as a net income trust or alternate-income trust, with the provision to "flip" into a standard unit rust at a predetermined time or event, such as the sale of an appreciated asset. 5. TIMEOUT: This stands for Net Income Makeup Charitable Remainder Unit rust and allows the donor or beneficiary to receive the trust's net income annually while carrying forward any undistributed income for future use. 6. FLIPKART: Similar to the flip unit rust, this type of trust initially operates as a net income, net income makeup, or alternate-income trust, but "flips" into a standard unit rust upon the occurrence of a specific event or date. 7. Net Income with Makeup PROVISION Trust (TIMEOUT): This trust provides the donor or beneficiary with the trust's net income annually, allowing for the potential accumulation of undistributed income for subsequent years. It's important to consult with qualified legal professionals or financial advisors when considering a Tennessee Charitable Remainder Inter Vivos Unit rust Agreement, as they can provide assistance in tailoring the agreement to your specific circumstances and charitable goals.