Charitable Lead Trusts (CLTs) offer current income tax deductions and a reduction of capital gains taxes. With a CLT, charities and ministries are the income beneficiaries, receiving a steady stream of income during the owner’s lifetime. Upon the owner’s death, named beneficiaries then receive the CLT’s assets.
A Charitable Lead Trust may be a particularly attractive estate planning vehicle for a wealthy individual who wishes to transfer substantial assets to his or her descendants at a significantly reduced gift or estate tax cost, while at the same time funding a charity or ministry.
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