qualified charitable remainder trust
- A type of trust that falls into one of two categories: either a trust providing a fixed annual payment, known as a charitable remainder annuity trust, or a trust providing a variable payment based on a fixed percentage of the trust's assets, known as a charitable remainder unitrust
- The wealthy businessman set up a qualified charitable remainder trust to support his favorite charities while also ensuring income for his retirement.
- Creating a qualified charitable remainder trust allows individuals to receive potential tax benefits while contributing to charitable causes.
- Upon legal advice, the family decided to establish a qualified charitable remainder trust to support different charities and also secure their financial future.
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