Charitable Lead Trust
A charitable lead trust is a type of trust that makes payments to Parkway Alumni Association, typically for a number of years, and then the remaining assets pass to you and/or your family members.
During your life or upon your death, you transfer cash or stock to the trust. Parkway Alumni Association receives a stream of payments from the trust. You decide the type of payments that Parkway Alumni Association will receive. The payments may be a fixed amount (called an “annuity”) or a percentage of the assets each year (called a “unitrust payment”). After a period of time specified by you in the trust, the remaining assets pass to beneficiaries named by you.
The timing and amount of income tax and estate tax charitable deductions will depend on the specific terms of your trust.