Time to Head Back Into the WaterTime to Head Back Into the Water
Overcoming unwarranted fears of the Shark (Fin CLAT)
Over the past few years, a number of articles have been written regarding a charitable giving and tax planning strategy known as the Shark-Fin charitable lead annuity trust (Shark-Fin CLAT). Like all charitable lead trusts (CLTs), a Shark-Fin CLAT is a split-interest trust that’s designed to offer a substantial fixed and determinable benefit to a taxpayer’s favorite charity, while at the same time providing the taxpayer’s heirs with the potential for an excess benefit that’s contingent on the assets held in the trust outperforming the Internal Revenue Service’s established rate of return. Rarely, if ever, has there been such fretting and handwringing over a planning strategy that violates neither the letter nor the spirit of any governin...
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