Nongrantor Lead Trust
How It Works
- Create trust agreement stating terms of the trust (usually for a term of years) and transfer cash or other property to trustee
- Trustee invests and manages trust assets and makes annual payments to the NWCF
- Remainder transferred to your heirs
- Annual gift to the NWCF
- Future gift to heirs at fraction of property's value for transfer-tax purposes
- Professional management of assets during term of trust
- No charitable income-tax deduction, but donor not taxed on annual income of the trust
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Naval War College Foundation, Inc.
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