Charitable Remainder Annuity Trust (CRAT): Concurrent and Consecutive Interests For Two Measuring Lives (California)

This legal template pertains to the establishment of a Charitable Remainder Annuity Trust (CRAT) in the state of California, within the jurisdiction of the United States of America. The CRAT is a specific type of trust arrangement that allows individuals to make charitable donations while still obtaining certain financial benefits during their lifetime.

The template caters to scenarios where the trust involves two measuring lives, which means that the annuity payments from the trust will be made to the donor and another individual simultaneously or consecutively, depending on the terms laid out in the document.

It is important to note that the template is designed specifically for application in California and must comply with the relevant laws and regulations governing charitable trusts in that jurisdiction, in addition to adhering to the federal laws of the United States. The template likely includes provisions outlining the conditions of the trust, the identified measuring lives, the calculation and distribution of annuity payments, and the ultimate disposition of the remaining trust assets to charitable organizations or causes specified by the donor.

By utilizing this legal template, individuals interested in establishing a Charitable Remainder Annuity Trust with concurrent or consecutive interest for two measuring lives can efficiently and effectively draft the necessary legal documents, ensuring compliance with applicable California and federal laws.