The so-called shark-fin charitable lead annuity trust offers relatively low charitable payouts in the trust's early years, but the amount going to charity balloons at the end of the trust's term.
What does CLAT stand for?
CLAT stands for Charitable Lead Annuity Trust
This definition appears very rarely and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of CLAT
We have 8 other meanings of CLAT in our Acronym Attic
- Personal-Nonmilitary (Army)
- Major End Items (Army)
- Medical Supplies (Army)
- Classification Working Group
- Nonmilitary Program Support Items (Army)
- Centre for Learning and Social Transformation (Australia)
- College Level Academic Skill Test
- College of Liberal Arts, Sciences and Technologies (Gallaudet University; Washington, DC)
- Center for Learning Through the Arts and Technology (University of California, Irvine)
- Central Latinoamericana de Trabajadores (Latin American Confederation of Workers)
- Civil Law Activities Tax
- Common Law Admission Test (India)
- Communication Line Adapters for Teletypewriters
- Computer-Aided Law and Advanced Technologies (forum)
- Controlled Language Authoring Technology
- Confederación Latinoamericana de Trabajadores Estatales (Spanish: Latin American Official Workers' Confederation)
- Caucasus Logistics Advisory Unit (est. 1993)
- City of Lincoln Archaeology Unit (UK)
- Commission Locale d'Aménagement et d'Urbanisme (French: Local Commission of Urban Planning and Development)
- Cultural and Linguistic Adaptability and User Interfaces (UNESCO)
Samples in periodicals archive:
A relatively new form of CLT is the increasing payment charitable lead annuity trust (IPCLAT).
And this spring, thanks to a $30 million gift from the Louis Feil Charitable Lead Annuity Trust, the Weill Cornell Medical Center laboratory research building on East 61st Street was named the Gertrude and Louis Feil Family Research Building, in honor of the parents of board of overseers member and real estate leader Jeffrey Feil and his sister, Carole Feil.
Alexander Forger, one of the executors, confirmed that Onassis' charitable lead annuity trust does not exist, though he would not rule out the possibility that it might still be created.
In addition, the uncertainty of upcoming Congressional action before the scheduled reinstatement of the federal estate tax on January 1, 2011 has caused many families and individuals to consider various types of such gift strategies, including outright gifts and gifts leveraged by trusts, such as grantor retained annuity trusts ("GRATs") and charitable lead annuity trusts ("CLATs").
The decedent's will provided that if the daughter disclaimed any portion of the bequest, 75% of the disclaimed portion would go to a charitable lead annuity trust (CLAT) (the annuity interest passing to the family foundation and the remainder interest passing to the daughter, if living at the end of the annuity term) and 25% would go to the family foundation outright.
This article will discuss, in general terms, various wealth transfer opportunities, such as intra-family loans, outright gifts, sales to intentionally defective grantor trusts (IDGTs), grantor retained annuity trusts (GRATs) and charitable lead annuity trusts (CLATs), that may be appropriate during this turbulent economic environment.
The sales will be made by a charitable lead annuity trust, of which Stover is trustee, to satisfy Internal Revenue Code requirements.