CHARITABLE LEAD TRUST

How does a Charitable Lead Trust work? 


You contribute securities or other appreciated assets to the Charitable Lead Trust and specify an annual amount (in dollars or percentage) to be granted to Grand Piano Series for a period of time (usually at least 10 years). When your estate is settled the remainder in the trust is paid to your heirs, often with a substantial tax benefit. This benefits us now and your heirs later. 


Will a Charitable Lead Trust create a current tax deduction? 


It can, but then trust income in following years will be taxable. Most people structure the Charitable Lead Trust so that it does not create a current tax deduction, but allows periodic gifts to the charity you designate and substantial tax benefits to your heirs. Note, if you want to use a trust to transfer assets to your grandchildren, a Charitable Lead Unitrust would probably be a better choice. Your fund advisor and/or tax accountant can explain all the details. We would love to be part of the conversation, contact us or refer your fund advisor to us! 


How long does this type of trust last? 


This is entirely up to you. Generally longer terms result in greater benefits to us and lower the taxable portion of the gift to your beneficiaries. Your fund advisor should be able to calculate the benefits at different time frames and we would be glad to help!

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