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

This legal template is a document that outlines the provisions and regulations concerning a Charitable Remainder Annuity Trust (CRAT) in the state of New York, under the laws of the United States. A Charitable Remainder Annuity Trust is a type of trust where individuals can place assets or funds to benefit both themselves and a charitable organization.

The template specifically focuses on CRATs that involve concurrent and consecutive interests for two measuring lives. Concurrent interests refer to the trust providing income to two individuals simultaneously, while consecutive interests allow for the trust to provide income to one individual after the other passes away.

This template will provide the necessary legal language and instructions for individuals or legal professionals looking to establish a CRAT in New York. It will include provisions regarding the selection and eligibility criteria for the measuring lives, the calculation and distribution of income payments, the designation of the charitable organization as the remainder beneficiary, and the administration and termination of the trust. The template will ensure compliance with relevant federal and state laws and regulations applicable to CRATs in New York.