Charitable Remainder Annuity Trust (CRAT): One Measuring Life (Texas)

The legal template for a Charitable Remainder Annuity Trust (CRAT) with one measuring life, specific to the state of Texas and governed by USA law, outlines the provisions and requirements for setting up a trust structure that allows a donor to make a charitable contribution while ensuring a fixed annual income for themselves or a beneficiary for a specified term.

This template would typically include detailed provisions related to the establishment and management of the trust, such as the identification of the charitable beneficiary or beneficiaries, the determination of the annuity amount that will be paid annually, and the named individual on whose life the trust's duration will be based (the measuring life). In this case, it is specifically designed to meet the legal requirements set forth by the state of Texas and comply with USA federal laws governing charitable trusts.

The template may also include provisions related to the trust's administration, such as the appointment of a trustee, instructions for investment and management of trust assets, provisions for the distribution or reinvestment of trust income, potential tax implications for both the donor and the trust, and provisions for the termination or modification of the trust under certain circumstances.

Overall, this legal template provides a framework for individuals in Texas who seek to establish a Charitable Remainder Annuity Trust (CRAT) with one measuring life, ensuring compliance with the relevant state and federal laws and offering guidance on various aspects of trust creation and administration.