A Charitable Lead Trust (CLT) is created by a transfer of assets to a trust that will pay Open Hand income for a term of years. At the end of the term, you or a beneficiary receives the remaining trust assets. A CLT can be created during life or at death (under the terms of your will). This planned giving option is a great way to transfer assets to future generations while benefiting Open Hand today. The tax advantage is that it removes assets from your estate and minimizes your estate and gift taxes.
For more information on planned giving options, or to set up an appointment to explore how a charitable gift to Open Hand may fit into your overall estate planning, please contact Jeff Carrico, Individual Gifts Manager, at 404-419-1109.