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Simple English definitions for legal terms

charitable lead trust

Read a random definition: advisory jury

A quick definition of charitable lead trust:

A charitable lead trust is a type of trust where some of the money earned goes to a charity, but the assets do not go to the charity when the trust ends. The person who sets up the trust decides how long it will last, and during that time, a charity gets some of the money earned by the assets. When the trust ends, the assets go back to the person who set up the trust or someone they choose. There are two types of charitable lead trusts: grantor and non-grantor. In grantor trusts, the person who sets up the trust controls it and gets a tax deduction, but they have to pay taxes on the money earned. In non-grantor trusts, the trust pays the taxes and gets the tax deductions, and there are fewer taxes when the trust ends.

A more thorough explanation:

A charitable lead trust is a type of trust that allows individuals to donate a portion of their income to a charity for a specific amount of time. The charity receives a certain amount of income produced by the assets, and when the trust ends, the assets go back to the grantor or whomever the grantor chooses. The grantor cannot terminate the trust at will; they terminate on the date specified when created.

For example, John sets up a charitable lead trust for 10 years and donates $100,000 to a charity. The charity receives $5,000 per year for 10 years, and at the end of the 10 years, the remaining assets go back to John or his chosen beneficiary.

Charitable lead trusts can be set up as grantor or non-grantor charitable trusts. In grantor charitable trusts, the grantor retains control of the trust and can take a tax deduction when the trust is created. However, the grantor must pay the taxes on income generated by the trust. In non-grantor trusts, the trust pays the taxes and receives the tax deductions from the charity payments, but there are much fewer transfer taxes when the trust ends compared to grantor charitable trusts.

Overall, charitable lead trusts allow individuals to support a charity while still retaining control of their assets.

charitable gift annuity | charitable organization

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TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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