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Charitable Lead Trust
Nongrantor
How Does It Work
- Create trust agreement outlining terms of the trust—usually for a term of years
- Transfer cash or other property to trustee
- Trustee invests and manages trust assets
- Trustee makes annual payments to Milligan
- Remainder transferred to your heirs
Benefits
- Annual gift to Milligan
- Future gift to heirs at fraction of property's value
- Professional management of assets during term of trust
- No charitable deduction, but donor not taxed on annual income
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