Oct 1, 2007 12:00 PM

By Conrad Teitell, principal and chair, charitable planning group, Cummings & Lockwood, LLP, Stamfor

Thanks to the Internal Revenue Service for its help to the estate-planning and charitable-giving community, by publishing sample charitable lead annuity trusts (CLATs). This is a welcome benefit for us, because unlike charitable remainder trusts (CRTs), there aren't regulations fleshing out the Internal Revenue Code provisions. In fact, lawyers who've drafted CLATs — and the lawyers at the IRS — often looked to the CRT regulations and the Service's sample CRT forms for guidance. The IRS' sample trusts, alternate provisions and annotations issued this June¹ are a virtual course on CLATs for us to study. Bottom line: I have just a few criticisms, but have to applaud the IRS for doing an overall excellent job.

Four years ago, the IRS announced that it planned to publish sample charitable lead trusts (CLTs) and invited public comments. My firm was one of the few to take the IRS up on this invitation to submit suggestions for sample lead trusts and annotations. The Service adopted almost all of our suggestions.

Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
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Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

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2011 Trust Glossary

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50 Years Ago This Month

Click here to read the issue.

50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb.

Conrad Teitell's Guide to Tax Benefits For Charitable Gifts

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