A testamentary CRUT is created when a decedent’s assets pass to a trustee and the trustee invests the assets to maximize the total return over time and also makes annual payments to one or more beneficiaries.
The amount of the annual payments fluctuate annually depending on several factors, including investment performance. The payments may continue for the income beneficiary’s lifetime or a term of years, after which the trust assets pass to the charities designated by the decedent.
Below is an application to draft an executable Testamentary CRUT, as well as the necessary supporting documents.