Charitable Lead Trust
How It Works
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You contribute cash,
securities or other property to a trust. |
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The trust makes fixed
annual payments to Gilman for a specified term
of years. |
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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 Gilman.
- You can adjust the annuity payments and
the term of the trust to reduce or even eliminate the transfer taxes due
when the principal reverts to your heirs.
- All appreciation that takes place in the
trust goes 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 Gilman now that reduces the taxes
due on transfers to your heirs later.
To learn more about Charitable Lead Trusts, Email us, complete the Information Request form, or call us at 410-323-7176 so that we can assist you.