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This is for persons who are charitably inclined and also want to make discounted gifts to their children or someone else. The gift to charity leads to an income tax deduction if the trust is structured properly. The remainder which is given to the kids is valued for gift tax purposes at its present value, which is less than the full value of the assets in the trust because of the prior charitable interest.
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Donald M.
Thompson * 55 W. Monroe #3950; Chicago, IL 60603
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