Non-qualified Charitable TrustsNon-qualified Charitable Trusts
We all have clients who feel they've fully provided for their descendants and loved ones financially, so their remaining estate-planning objectives are purely philanthropic. The end-of-life estate plans for those clients become very simple make a direct gift of the residue of the estate to public charities or a private foundation (PF). But is this strategy the best way to achieve your client's civic
David R. Hodgman & Michael J. Huft
We all have clients who feel they've fully provided for their descendants and loved ones financially, so their remaining estate-planning objectives are purely philanthropic. The end-of-life estate plans for those clients become very simple — make a direct gift of the residue of the estate to public charities or a private foundation (PF). But is this strategy the best way to achieve your client's civic and philanthropic goals? Perhaps not. Why not advise your client to consider giving the bulk of his estate to lifetime grantor retained annuity trusts (GRATs) or lifetime or testamentary charitable lead annuity trusts (CLATs), for which the taxable value of the non-charitable remainder is zero? The recipien...
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