CHARITABLE LEAD TRUSTS
A Charitable Lead Trust allows the donor to reduce beneficiaries’ taxable income by donating a portion of the trust’s income to charities and after a specified period of time, transferring the remainder of the trust to the beneficiaries.
A charitable lead trust is designed to reduce estate taxes after the donor passes away. This is accomplished by donating to charities from the estate until taxes have been reduced. Once this is accomplished, the estate is transferred to the designated beneficiaries, who typically will face much lower taxes.
- Contact Honor Flight Chicago’s administrative office at 773-227-VETS (8387) for additional information on advance giving.
- Seek the advice of your financial or legal advisor.
- If you include Honor Flight Chicago in your plans, please use our legal name and federal tax ID.
Legal Name: Honor Flight Chicago
Address: 938 West Montana St., Chicago, IL 60614
Federal Tax ID Number: 26-1978570
The information on this website is not intended as legal or tax advice. Please consult an attorney or tax advisor for such advise.