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A charitable lead trust (“CLT”) is basically the opposite of a CRT, providing a way to make current and future gifts to charity, while keeping remainder assets in the family. The donor creates a CLT, naming either him/her/themselves or a third party as Trustee of the trust (Lair Administration Services, LLC does NOT serve as Trustee), and makes a gift of assets to the CLT. Upon making such a gift, depending upon which type of CLT is created, the donor receives either an immediate income or estate/gift tax deduction based upon the value of the charitable portion of the gift. See discussion of the different types of CLT’s for an overview of the applicable tax deductions. Unlike a CRT, a CLT is NOT a tax-exempt entity.

The CLT will pay an income stream to a charitable beneficiary for either a term of years or for the remainder of an individual’s lifetime (or joint lives, as the case may be). At the end of the trust term or upon the death of the last measuring life, the assets in the CLT are distributed to non-charitable beneficiaries as provided for in the trust instrument.

Grantor Charitable Lead Trust Non-grantor Charitable Lead Trust

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