Which of the following is a charitable lead trust? Choose the correct.a. The income of the trust fund goes to an individual until death, at which time the principal is conveyed to a charitable organization.b. Charitable gifts are placed into the trust until a certain dollar amount is achieved and is then transferred to a specified charitable organization.c. The income of a trust fund goes to a charitable organization for a specified time with the principal then being conveyed to a different beneficiary.d. A charity conveys money to a trust that generates income for the charity’s use in its various projects.
Which of the following is a charitable lead trust? Choose the correct.a. The income of the trust fund goes to an individual until death, at which time the principal is conveyed to a charitable organization.b. Charitable gifts are placed into the trust until a certain dollar amount is achieved and is then transferred to a specified charitable organization.c. The income of a trust fund goes to a charitable organization for a specified time with the principal then being conveyed to a different beneficiary.d. A charity conveys money to a trust that generates income for the charity’s use in its various projects.
Chapter28: Income Taxati On Of Trusts And Estates
Section: Chapter Questions
Problem 23P
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Which of the following is a charitable lead trust? Choose the correct.
a. The income of the trust fund goes to an individual until death, at which time the principal is conveyed to a charitable organization.
b. Charitable gifts are placed into the trust until a certain dollar amount is achieved and is then transferred to a specified charitable organization.
c. The income of a trust fund goes to a charitable organization for a specified time with the principal then being conveyed to a different beneficiary.
d. A charity conveys money to a trust that generates income for the charity’s use in its various projects.
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