Charitable Lead Trust

Cite

A kind of charitable trust. the person (grantor) who sets up the trust transfers assets to it, and income from the trust property then goes to the charity for a set period of time. then the trust property goes back to the person who set up the trust (or another beneficiary that person named, usually the grantor’s children or grandchildren). typically, the charity serves as trustee of the charitable trust. compare: charitable remainder trust

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.