Charitable Remainder Unitrust (CRUT): Flip-CRUT and Flip-NIMCRUT Unitrust Payment Options for Term of Concurrent and Consecutive Interests (Massachusetts)

This legal template pertains to the establishment and arrangement of a Charitable Remainder Unitrust (CRUT) in the context of Massachusetts law under the jurisdiction of the United States. Specifically, it focuses on two variations of CRUT known as Flip-CRUT and Flip-NIMCRUT and outlines unitrust payment options applicable to the duration of concurrent and consecutive interests.

A Charitable Remainder Unitrust (CRUT) is a type of trust that allows individuals to donate assets, such as real estate or securities, while still retaining an income stream during their lifetime or a predetermined term. The CRUT is structured in a way that directs annual distributions to the donor or named beneficiaries, with the remaining assets ultimately going to a designated charity or charities upon the donor's passing or expiration of the term.

The template delves into the specifics of Flip-CRUT and Flip-NIMCRUT, two variations of CRUT that have gained popularity in the field of charitable planning. These structures provide additional flexibility to donors by permitting the change or "flip" of payment provisions during the term of the trust, allowing for potential adjustments to meet evolving financial needs or other significant life events.

Furthermore, the template highlights the unitrust payment options available within the specified timeframe, which may include fixed annuity payments, percentage-based distributions, or other agreed-upon methods. It may also cover the rules and regulations surrounding concurrent and consecutive interests, providing guidance on how these interests can be effectively managed and allocated between the donor, beneficiaries, and the designated charitable organization.

Overall, this legal template aims to serve as a comprehensive guide for individuals or legal practitioners seeking to establish a Charitable Remainder Unitrust (CRUT) in Massachusetts, adhering to USA law.