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| Definition Of: |
Charitable Lead Trust
A trust established for the benefit of a charitable organization under which the settlor receives income from an asset for a set number of years or for the life of the settlor. Upon termination of the trust, the asset reverts to the settlor or designated heirs. This type of trust reduces estate taxes and permits heirs to retain control of the assets in the trust.
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UNODC Money Laundering Terms Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 A: Page 1 of 1.
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