Charitable Lead Unitrust (CLUT) (IL) | Practical Law

Charitable Lead Unitrust (CLUT) (IL) | Practical Law

A Standard Document creating a charitable lead unitrust (CLUT) for a settlor residing in Illinois. A CLUT is a charitable lead trust (CLT) created for the initial benefit of one or more charitable beneficiaries who receive a stream of income equal to a percentage of the value of the trust assets determined annually for a specified term. At the end of the term the remaining property is distributed to one or more non-charitable remainder beneficiaries.

Charitable Lead Unitrust (CLUT) (IL)

Practical Law Standard Document w-018-6891 (Approx. 36 pages)

Charitable Lead Unitrust (CLUT) (IL)

by Practical Law Trusts & Estates
MaintainedIllinois
A Standard Document creating a charitable lead unitrust (CLUT) for a settlor residing in Illinois. A CLUT is a charitable lead trust (CLT) created for the initial benefit of one or more charitable beneficiaries who receive a stream of income equal to a percentage of the value of the trust assets determined annually for a specified term. At the end of the term the remaining property is distributed to one or more non-charitable remainder beneficiaries.