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Transferring the family business – Using a CLAT can benefit charity and your family


SKU: ESTnd092. Category: .


Abstract: A family business owner with philan¬thropic aspirations may have a lot of wealth tied up in the business, making it difficult to give to charity without tapping those assets. At the same time, it can be hard for a donor to retain control of the business during life and to keep the business in the family after death while minimizing estate taxes. One solution worth considering is a charitable lead annuity trust (CLAT). By using a testamentary CLAT (T-CLAT) to hold business interests and then sell those interests to the family, donors can achieve both their business succession and philanthropic goals. A sidebar offers an example of a CLAT in action.

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