Charitable Lead Trust
Trust in which a charity receives income from a donated asset for a specified number of years that it is held in that trust. After the specified period concludes, the principal is transferred to the donor's beneficiaries. This vehicle is used to keep wealth in the family by significantly reducing the costs of transfer to beneficiaries. The charity has the use of the income earned by that money, but the charity does not have use of the principal. This distribution is a taxable gift.
Popular Insurance Terms
Time frame during which an annuitant receives income payments from the insurance company, usually on a monthly basis. The obligations of the company to the annuitant during the liquidation ...
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Document setting out the responsibilities of a borrower, such as a corporation issuing bonds, and the powers of a trustee who will be looking after the interests of the bondholders. ...
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