|
Charitable Lead Trusts
A Charitable Lead Trust enables you to transfer wealth to future
generations at a significant tax savings - and also helps you meet
your philanthropic goals.
Charitable Lead Trusts are especially helpful for donors in high
gift and estate tax brackets. Through such a vehicle, the donor
transfers assets to a Lead Trust. A fixed annual amount or percentage
goes to the Clinic for the duration of the trust. (The duration
can be a specific term of years, or lifetime.) Then the remaining
assets of the trust pass to the trust's beneficiaries (usually the
donors' heirs).
This trust is generally used to transfer wealth to children or
grandchildren by greatly reducing transfer taxes (estate tax, gift
tax, generation skipping tax). Charitable Lead Trusts are complex,
but they are also highly flexible and can be extremely effective.
Your accountant or estate planning attorney can help you design
a Charitable Lead Trust which best suits your particular needs and
circumstances.
Besides helping you and your family reduce exposure to taxes, Charitable
Lead Trusts allow you to support causes during your lifetime. Many
individuals have found Charitable Lead Trusts to be a meaningful
way to provide current, significant support of The Cleveland Clinic
- such as support of a current campaign, building project or a pledge
that the donor has made.
When you establish a Charitable Lead Trust with the Clinic, you
qualify for membership in the PYRAMID Legacy Society.
PYRAMID is a recognition society of friends, patients and
alumni worldwide who have remembered The Cleveland Clinic in their
estate or other charitable gift plans.
We can meet with you and your financial advisors
to discuss the options that are most appropriate to your particular
needs and goals. For a confidential discussion of the benefits you
can receive by establishing a Charitable Lead Trust with the Cleveland
Clinic, please call Gift Planning Officers Nelson Wittenmyer, Esq.
at 216/444-1275 or Patrick Ertle, Esq. (216/445-7076).
Back to Giving
to The Cleveland Clinic
|
