Charitable lead trust

{
  "id": "MLC-T-LAW-000944",
  "term": "Charitable lead trust",
  "field": "Law",
  "definition": "An irrevocable trust that makes payments to a designated charity for a specified term, after which the remaining assets are transferred to non-charitable beneficiaries, typically the grantor's heirs. The trust pays either a fixed annuity (charitable lead annuity trust) or a percentage of the trust's value (charitable lead unitrust). This instrument is distinct from a charitable remainder trust, where the charity receives the assets only after the non-charitable beneficiaries' term ends.",
  "url": "https://mlchart.com/terminology/law/charitable-lead-trust/"
}