Individuals with very large estates can use a charitable lead trust to benefit Alabama Wildlife Center and pass principal to family members with little or no tax penalty.
It works like this:
You transfer assets to a trust that provides payments to Alabama Wildlife Center for a term of years. Then the trust principal goes to your children, grandchildren, or others free of, or at greatly reduced, federal gift and estate tax. (Please note that a generation skipping tax [GST] is imposed on large transfers to grandchildren and others who are more than one generation younger than you.)
We make no claims regarding the accuracy of the above information or the tax consequences stemming from your use of it. Please consult with your own tax, legal, or financial planning advisor.