Charitable Remainder Unitrust (CRUT): Fixed Percent Unitrust Payment for Term of One Measuring Life (Pennsylvania)

The Charitable Remainder Unitrust (CRUT): Fixed Percent Unitrust Payment for Term of One Measuring Life (Pennsylvania) under USA law is a legal template that outlines the terms and conditions of a specific type of charitable trust. In this arrangement, a donor establishes a trust, known as the Charitable Remainder Unitrust (CRUT), which provides both income to the donor and a future charitable gift. The template specifically refers to the version of this trust that is applicable in Pennsylvania under United States law.

The purpose of this legal template is to provide a framework for individuals or organizations interested in creating a CRUT in Pennsylvania. The template lays out the requirements and guidelines for establishing the trust, such as naming a measuring life (the individual whose life will determine the duration of the trust) and specifying a fixed percentage of the trust's value to be distributed as income payments.

By utilizing this template, individuals or organizations can ensure that their charitable goals are fulfilled in a structured and legally compliant manner. By establishing a CRUT, donors can receive annual income payments from the trust for the duration of the measuring life, while also reserving a future charitable gift to be transferred to a designated charity or charities upon the expiration of the trust term.

This legal template is designed to provide a clear and comprehensive framework for creating a Charitable Remainder Unitrust in Pennsylvania under USA law, enabling both the donor and the chosen charitable organization(s) to benefit from the arrangement. It helps ensure that all necessary legal elements are present, and provides a solid foundation for executing and administering the trust in accordance with applicable laws and regulations.