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William Orr, CRPC®
Financial Planner
WillO Financial Solutions
8888 Keystone Crossing, Suite 500
Indianapolis, IN 46240
Phone: 317-708-5589
Cell: 317-750-9964
Email: william.orr@prudential.com
January/February 2025
A Win-Win Planning Solution
Looking for a tax-efficient way to support your favorite charities while providing for your heirs? A charitable lead trust (CLT) may be a solution. With a CLT, you can make a meaningful impact on causes you support while potentially reducing your tax burden.
What is a Charitable Lead Trust?
It's a legal arrangement that allows you to transfer assets to a trust, which makes annual payments to the charity of your choice for a specified period. Once that period ends, the remaining trust assets can be passed on to your heirs or beneficiaries.A Unique Opportunity
A key advantage of a CLT is its ability to generate a charitable deduction for you. By funding the trust, you can potentially offset a portion of your income, estate, and gift taxes. Additionally, any appreciation on the trust assets during the charitable period won't be subject to estate or gift taxes when they pass to your heirs. This can effectively transfer wealth to future generations while supporting causes that matter to you now.Creating a charitable lead trust is a complex financial decision that requires careful consideration and the advice of tax, legal and financial professionals. But if you're passionate about giving back and want to leave a lasting legacy, a CLT may be a way to make a meaningful impact for generations to come.
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