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Charitable Lead Trust
(A Charitable Way to Pass Assets to Heirs)
 


How it works
  1. You contribute cash, securities or other property to a trust.
  2. The trust makes fixed annual payments to the American Red Cross for a specifies term of years.
  3. When the trust ends, the remaining principal goes to your heirs.
Benefits
  • You qualify for a gift tax deduction for the present value of the annuity payments to the Red Cross.
  • The annuity payments and the term of the trust can be specified in such a way so as to reduce or even eliminate the transfer taxes due when the principal reverts to your heirs.
  • All appreciation that takes place in the trust does tax-free to your heirs.
  • You can use your available estate tax credit ($1.5 million per person in 2004; $2.0 million per person beginning in 2006) to further reduce taxes on transfers to your heirs.
  • You can have the satisfaction of making a significant gift to the Red Cross now that reduces taxes due to transfers to your heirs later.


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3747 Euclid Avenue   Cleveland, Ohio   44115-2596
216.431.3010
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