Charitable remainder trust

{
  "id": "MLC-T-LAW-000947",
  "term": "Charitable remainder trust",
  "field": "Law",
  "definition": "An irrevocable trust that provides for a specified distribution, either a fixed annuity or a variable unitrust amount, to one or more non-charitable beneficiaries for life or a term of years. After this period, 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-trust/"
}