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

This legal template specifically pertains to setting up a Charitable Remainder Annuity Trust (CRAT) in the state of Georgia, under the jurisdiction of US law. A CRAT refers to a trust agreement in which the creator transfers assets to a trust, with the intention of providing fixed annual income payments to designated beneficiaries, typically for a specified period or the lifetime of one or more individuals.

In this particular document, the template discusses the concept of "Consecutive Interests For Two Measuring Lives." This implies that the beneficiaries of the trust will receive income payments for the duration of the lives of two individuals, often spouses or family members. The template likely details the specific conditions and requirements necessary for establishing such a trust in full compliance with the laws in Georgia and the broader US legal framework.

The template may include provisions such as the minimum and maximum payout amounts, the criteria for determining the measuring lives, the responsibilities and powers of the trustee, the selection of the charitable organization(s) to receive the remaining trust assets after the beneficiaries' lifetimes, and any additional terms or conditions that need to be met for the trust to be legally valid and effective.

Overall, this legal template is designed to assist individuals or their legal representatives in setting up a Charitable Remainder Annuity Trust with consecutive interests tied to the lives of two individuals, within the specific legal context of Georgia under US law.