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

This legal template is designed to outline the establishment and terms of a Charitable Remainder Annuity Trust (CRAT) under the laws of the state of Georgia, within the United States. A CRAT is a type of irrevocable trust commonly utilized by individuals seeking to support charitable causes while also providing for themselves or their loved ones during their lifetimes.

This specific template addresses a CRAT that involves concurrent and consecutive interests for two measuring lives. In other words, the trust seeks to provide income or other distributions to two individuals during their lifetimes, with the remainder going to a designated charitable organization after their passing.

The template will likely include provisions related to the initial funding of the trust, the selection of trustees, the determination of the annuity payout amount, as well as the distribution of any additional income generated by the trust assets. It may also include provisions for adjusting the annuity payment amount in certain circumstances and guidelines for the substitution of measuring lives if necessary.

It is important to note that this template is specifically tailored to the legal framework of the state of Georgia and complies with relevant federal laws governing charitable trusts. However, it is recommended to consult with a qualified attorney who specializes in estate planning or trust law to ensure that the trust document meets the specific needs and goals of the individual or family creating the trust.