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Charitable Lead Trust

Areas of Practice:

Power of Attorney
Elder Law
Asset Protection
Estate Planning in San Jose
Health Care Directive

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This (CLT) is the reverse of CRT. Assets are transferred to an irrevocable trust with a provision that the trust principal reverts to the donor or another beneficiary after a certain period of time. The charity receives income from the trust. The donor receives an immediate income tax deduction for the present value of the income interest given to the charity. However, the donor must pay income tax on the income from the trust in later years. CLT transfers the assets to beneficiaries at reduced transfer tax cost while locking in the value of the assets. CLT makes sense if the investment return of the tax savings from the immediate deduction offsets the trust income taxable in later years.