Individuals who are concerned about their heirs receiving a large inheritance at too young an age sometimes find the charitable lead trust to be a useful estate planning strategy.
It has the effect of making certain assets accomplish two objectives. First, the assets provide important funding for programming at AMHF. Then, they are passed along to heirs at a time when these family members are able to use the assets to best advantage.
You Decide When It All Begins in 2024!
This trust provides funding for AMHF either immediately, if you create it during your lifetime, or beginning at your death if you establish it as a testamentary trust. Either type of lead trust offers you a good way to carry out your philanthropic plans over the coming years and save on taxes. Plus, you keep ultimate control of the trust assets within the family.
The lead trust is an exceptional way to transfer property to your children or other heirs at minimal tax cost because a charitable gift/estate tax deduction is allowed for the value of the payments received by AMHF.
You Decide Who Gets What…and When!
The charitable lead trust has a couple of different versions. This allows you to structure the arrangement in a way that meets your specific objectives.
You decide how much is paid to AMHF, and for how long these payments are made.
You also select the individuals who will be receiving the assets in the future, and when they will get them.
If you are not sure about the ultimate destination of the trust assets at the time you create the lead trust, you can designate someone to make the decision for you when the time comes. Get help from your lawyer to set up the Charitable Lead Trust.
Office of Legacy Planned Giving and Development, American Mental Health Foundation, Box 3, Riverdale NY 10471-0003