charitable lead trust

charitable lead trust definition - finance
A trust that allows a charity to receive income during the grantorÂ’s, or donorÂ’s, lifetime. Upon the death of the grantor, the balance of the trust goes to the grantorÂ’s beneficiaries. This trust reduces estate taxes while enabling the family to retain the assets. See also charitable remainder trust.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.