Many people considering estate planning want to incorporate charitable contributions in their estate plan. Many also wish to shield estate assets from taxation. In addition, they may wish to benefit from a tax deduction for charitable contributions and save on capital gains taxes that would be levied on appreciated property.<\/p>\n
There are two basic irrevocable trusts that can achieve those goals: Charitable Lead Trusts (CLT) and Charitable Remainder Trusts (CRT). Depending on a person’s objectives, either can be highly beneficial to an estate.<\/p>\n
With a CLT, assets are placed in the trust, and the designated charity receives an annual distribution for the term of the agreement. As such, CLTs permit a donor to see the charity benefit during his or her lifetime. At the conclusion of the term of agreement, which might be 10 or 15 years, the remaining assets are left to noncharitable beneficiaries that the client has designated (typically his or (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Many people considering estate planning want to incorporate charitable contributions in their estate plan. Many also wish to shield estate assets from taxation. In addition, they may wish to benefit from a tax deduction for charitable contributions and save on…<\/span><\/p>\n