IRS Provides Eight New Sample Inter Vivos and Testamentary CRUT Declarations

IRS Provides Eight New Sample Inter Vivos and Testamentary CRUT Declarations

News story posted in Revenue Procedures on 22 August 2005| 1 comments
audience: National Publication | last updated: 19 May 2014
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Summary

The IRS has released eight new annotated sample declarations of trust and alternate provisions for inter vivos and testamentary charitable remainder unitrusts with varying measuring terms. Previously, the IRS issued sample trust instruments for certain types of CRUTs. It is updating the previously issued samples and issuing new samples for additional types of CRUTs; annotations and alternate sample provisions are included as further guidance.

Linked Documents:

Sample Inter Vivos CRUT Declaration for One Measuring Life - Rev. Proc. 2005-52
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for inter vivos charitable remainder unitrusts that provide unitrust payments for one measured life followed by a charitable distribution of trust assets.

Sample Inter Vivos CRUT Declaration for a Term of Years - Rev. Proc. 2005-53
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for inter vivos charitable remainder unitrusts that provide unitrust payments for a term of years followed by a charitable distribution of trust assets.

Sample Inter Vivos CRUT Declaration for Consecutive Measuring Lives - Rev. Proc. 2005-54
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for inter vivos charitable remainder unitrusts that provide unitrust payments for two consecutive measured lives followed by a charitable distribution of trust assets.

Sample Inter Vivos CRUT Declaration for Concurrent and Consecutive Measuring Lives - Rev. Proc. 2005-55Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for inter vivos charitable remainder unitrusts that provide concurrent and consecutive unitrust payments for two measuring lives followed by a charitable distribution of assets.

Sample Testamentary CRUT Declaration for One Measuring Life - Rev. Proc. 2005-56
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for testamentary charitable remainder unitrusts that provide unitrust payments for one measuring life followed by a charitable distribution of trust assets.

Sample Testamentary CRUT Declaration for a Term of Years - Rev. Proc. 2005-57
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for testamentary charitable remainder unitrusts that provide unitrust payments for a term of years followed by a charitable distribution of trust assets.

Sample Testamentary CRUT Declaration for Consecutive Measuring Lives - Rev. Proc. 2005-58
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for testamentary charitable remainder unitrusts that provide unitrust payments for two consecutive measuring lives followed by a charitable distribution of trust assets.

Sample Testamentary CRUT Declaration for Concurrent and Consecutive Measuring Lives - Rev. Proc. 2005-59
Annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for testamentary charitable remainder unitrusts that provide concurrent and consecutive unitrust payments for two measuring lives followed by a charitable distribution of assets.

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Comments

CRT sample documents

Some of us have been waiting a long time for these after the release of the annuity trusts. Once we have reviewed them, PGDC would be a good forum for commenting on them as to the good features and the ones to be watchful for. The IRS sometimes makes choices in their samples that do not apply to all cases. While they have been much better in this round than the ones from 1989 and 1990, we still have to be vigilant and read them very carefully. LS Moerschbaecher

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