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 NYU Langone
- Remainder transferred to your heirs
- Annual gift to NYU Langone
- 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
© Pentera, Inc. Planned giving content. All rights reserved.
Disclaimer: The information provided is general in nature and may not apply to all individuals. This information does not constitute legal or tax advice. We urge you to consult with your personal tax, financial, and legal advisors concerning the specific consequences of making gifts to NYU Langone Health. We would be pleased to discuss, in confidence, ways in which you may support NYU Langone Health.