Charitable remainder annuity trusts (CRAT) allow a grantor to create a trust that generates income until the beneficiary dies, then later transfers the assets to a charity. These trusts are popular for grantors because they receive tax...
law and economics
charitable remainder trust
Charitable remainder trust allows a grantor to create a trust that generates revenue for a few years and then transfers the assets to a charity. These types of trusts are popular because they allow the grantor to still generate income while...
charitable remainder unitrust
Charitable remainder unitrusts (CRUT) allow grantors to create tax beneficial trusts which continue to generate income for a specific amount of time, then transfer the assets to a charity. These trusts create tax benefits by allowing the...
charitable trust
A charitable trust is a trust made for the benefit of specific charitable purposes. The purpose of the trust must fall into one of the specific purpose categories or is it not valid. Charitable trusts are favored by the law. They do not...
charitable trusts purposes
A charitable trust qualifies for certain favorable treatment under U.S. law. For example, it is not subject to the rule against perpetuities and cannot fail for a lack of definite beneficiaries. To qualify as a charitable trust, the trust...
charity
A charity is a nonprofit organization whose efforts are focused on aiding those in need. This can take several forms, which can be local or international in scope. Some raise money or provide services like food, clothing, or shelter to...
chattel mortgage
Chattel Mortgage is an antiquated term for a mortgage on movable personal goods such as a machinery or vehicle (as opposed to real estate) where the lender holds an interest in the property as security/collateral for the loan. Today these...
chattel paper
Chattel paper refers to a document used in secured transactions to sell property on credit while retaining some interest in the property. Chattel paper must show:
A monetary obligation from Party A to Party B, and A security...check
A check is a draft upon an account that is used to instruct a bank or other financial institution to transfer funds from the payor’s account (the person who has the account and signs the check) to the payee’s account. There are different...
check-kiting
Kiting or check-kiting is defined as the practice of covering a bad check from one bank account to another. Persons with multiple bank accounts use this advantage because it takes multiple days to process checks. The check that has been...