Charitable Lead Trust
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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.
More
- Is this gift for you? Click
here.
- Read more detail. Click here.
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.