What Is a Charitable Remainder Trust? How Should It Be

question 5

Essay

What is a charitable remainder trust? How should it be accounted for?

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Definitions:

Avoid

To keep away from or refrain from engaging in something, often due to potential risks or negative outcomes.

Equal Dignity Rule

A rule requiring that an agent’s authority be in writing if the contract to be made on behalf of the principal must be in writing.

Good Faith

An honest intention to act without taking an unfair advantage over another party, typically in the context of contracts or negotiations.

Chief Executive Officer

The highest-ranking officer in a company or organization, who is responsible for making major corporate decisions.