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Charitable Lead Trust (CLT)

Example 1: Karen recently became a widow and received a large payment from her husband's life insurance policy. She also has some stock that has performed very well over the years. Karen doesn't need all of that money at this point in her life, but she wants to support KML and also leave a generous inheritance to her children. To accomplish her goals, Karen establishes a charitable lead trust. According to her wishes, KML will have use of the income from the trust for the years in which she lives, and upon her death, the remaining funds will return to her estate and become part of the inheritance for her heirs. With this arrangement, Karen can see her gifts in action at KML, and she also provides a wonderful financial blessing for her children.

Example 2: Chuck and Betty have been faithful supporters of the church, but never had the money to support other ministries, like KML, as fully as they wanted. Although they aren't rich, they set aside some funds and built and nice nest egg for retirement. Now they are ready to retire, and suddenly received a windfall from an unexpected inheritance. They see this as an opportunity to support KML in a special way without reducing their church offerings. At the same time, they want to keep a substantial amount in their estate for their children. To accomplish their goals, Chuck and Betty create a charitable lead trust, and authorize KML to receive a percentage of the funds for special projects. Upon the death of both Chuck and Betty, the balance of this trust will return to the estate and be included in the inheritance.

 

To discuss a planned gift to KML, contact your KML Estate Plan and Deferred Gift Counselor, 
Paul Snamiska, at 262-677-4051 x1116 or paul.snamiska@kmlhs.org.

The information that is provided on this site is for educational purposes only. Consult your personal tax consultant, attorney, or financial planner for specifics that apply to your personal situation.