Charitable Lead Trusts: The Time is Right Now
Morris W. Banks, an attorney in Pullman & Comley's Trusts and Estates and Corporate and Business Departments, writes about the use of charitable lead trusts, vehicles in which a donor funds a trust that makes fixed payments to a charity over a period of time. "The designated charity receives the benefits in the early years while the donor's heirs, or non-charitable beneficiaries, receive the trust assets at the conclusion of the charitable term," he writes.
According to Attorney Banks, "Today's historically low interest rates create a unique opportunity for individuals with significant wealth to create a trust that will not only benefit the charity of their choice, but have long term benefits for their estate as well."
To read the full article on the Hartford Business Journal website, please click here.