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.
Bexar Texas Inter Vivos Granter Charitable Lead Annuity Trust (Bexar Texas WILDCAT) is a specific type of trust that allows individuals in Bexar County, Texas, to establish charitable lead annuity trusts with the intention of supporting charitable causes. This trust is a legal arrangement where the granter transfers assets to the trust, and the trust makes annual payments to one or more charitable organizations for a fixed period or until the granter's death. Keywords: Bexar Texas WILDCAT, Bexar County, Texas, charitable lead annuity trust, granter, assets, charitable organizations. Different types of Bexar Texas Inter Vivos Granter Charitable Lead Annuity Trust include: 1. Charitable Lead Annuity Trust: In this type of trust, the interest earned on the assets is distributed as fixed annuity payments to charitable organizations. The payments are made annually for a predetermined number of years, after which the remaining assets are returned to the granter or passed on to other beneficiaries. 2. Inter Vivos Trust: The term "Inter Vivos" means "between the living." This type of trust is created and takes effect during the lifetime of the granter, as opposed to being established in a will and only taking effect upon the granter's death. 3. Granter Trust: The granter retains certain powers over the trust, such as the ability to amend or revoke it, and is responsible for any taxes incurred by the trust. This type of trust is advantageous for individuals who wish to maintain some control over the trust assets. By establishing a Bexar Texas WILDCAT, individuals can support charitable causes that align with their values while potentially receiving certain tax benefits. Charitable lead annuity trusts can be customized to meet the specific needs and goals of the granter while making a positive impact on the community.Bexar Texas Inter Vivos Granter Charitable Lead Annuity Trust (Bexar Texas WILDCAT) is a specific type of trust that allows individuals in Bexar County, Texas, to establish charitable lead annuity trusts with the intention of supporting charitable causes. This trust is a legal arrangement where the granter transfers assets to the trust, and the trust makes annual payments to one or more charitable organizations for a fixed period or until the granter's death. Keywords: Bexar Texas WILDCAT, Bexar County, Texas, charitable lead annuity trust, granter, assets, charitable organizations. Different types of Bexar Texas Inter Vivos Granter Charitable Lead Annuity Trust include: 1. Charitable Lead Annuity Trust: In this type of trust, the interest earned on the assets is distributed as fixed annuity payments to charitable organizations. The payments are made annually for a predetermined number of years, after which the remaining assets are returned to the granter or passed on to other beneficiaries. 2. Inter Vivos Trust: The term "Inter Vivos" means "between the living." This type of trust is created and takes effect during the lifetime of the granter, as opposed to being established in a will and only taking effect upon the granter's death. 3. Granter Trust: The granter retains certain powers over the trust, such as the ability to amend or revoke it, and is responsible for any taxes incurred by the trust. This type of trust is advantageous for individuals who wish to maintain some control over the trust assets. By establishing a Bexar Texas WILDCAT, individuals can support charitable causes that align with their values while potentially receiving certain tax benefits. Charitable lead annuity trusts can be customized to meet the specific needs and goals of the granter while making a positive impact on the community.
