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Accounts and Finance Miscellaneous in Accounts and Finance . 2 months ago
A Charitable Remainder Annuity Trust (CRAT) is a Planned Giving vehicle that entails a donor placing a major gift of cash or property into a trust. The trust then pays a fixed amount of income each year to the donor or the donor's specified beneficiary. When the donor dies, the remainder of the trust is transferred to the charity.
Charitable trusts such as a CRAT require a trustee. Sometimes the charity is named as trustee, other times it is a third party such as an attorney, a bank or a financial advisor.
Posted on 07 Sep 2024, this text provides information on Accounts and Finance related to Miscellaneous in Accounts and Finance. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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