Charitable remainder annuity trust

{
  "id": "MLC-T-LAW-000946",
  "term": "Charitable remainder annuity trust",
  "field": "Law",
  "definition": "An irrevocable trust where a donor transfers assets to the trust, and in return, receives a fixed annuity payment each year for a specified term or for life. After the term ends, the remaining trust assets are distributed to a designated charity. The donor receives an immediate income tax deduction for the present value of the charitable remainder interest.",
  "url": "https://mlchart.com/terminology/law/charitable-remainder-annuity-trust/"
}