Charitable Lead Trusts

charitable lead trust

What does this mean?

A charitable Lead trust is designed to reduce beneficiaries taxable income by first donating a portion of the trusts income to charities and then, after a specified period of time, transferring the remainder of the trust to the beneficiaries

The whole idea of a charitable lead trust is to reduce taxes upon the estate left by the deceased. This is done by donating to charities from the estate until all taxes are reduced. Once this is accomplished, the estate is then transferred to the beneficiaries who typically will face lower taxes.

Thank you for considering McLaren Bay Medical Foundation as you charity of choice.