|
 Individuals
with very large estates can use
a charitable lead trust to benefit the American Red Cross and
pass principal to family members with little or no tax penalty.
It works like this: You transfer
assets to a trust that provides payments to the Red Cross for a
term of years. Then, the trust principal goes to your
children, grandchildren, or others free of, or at greatly
reduced, federal gift and estate tax. (Please note that a
generation skipping tax [GST] is imposed on large transfers to
grandchildren and others who are more than one generation
younger than you.
If you are interested in getting more information on charitable
lead trusts, please
contact
Elaine
Hansen
here at the Red Cross at
mowerarc@charter.net
or call
(507) 437-4589 in Mower County
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