When planning your estate plan and deciding how best to protect your wealth from taxes you should consider the Charitable Lead Trust
The trust is useful for philanthropic endeavors, where charitable gifts are periodically given. Generally, a gift occurs upon creation of the trust and a significant income tax deduction is available in the year the trust is created, with the unused portion carried forward for five years in some cases.
“The Charitable Lead Trust also enhances your ability to transfer wealth to your children and grandchildren without incurring a gift or estate tax.” says Anne Desormier-Cartwright, of Elder and Estate Planning Attorneys, PA.
Control of the principal investment assets may be retained, and the trust may be created before or at death.
Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.
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