This trust can be distributed for a “term of years” or for “life.” The Charitable Financial Planner handles five lives, but there is no statutory limitation on the number of income beneficiaries a charitable remainder trust may have.
If it is distributed for a term of years, the trust provides periodic distributions to non-charitable beneficiaries for a period not in excess of 20 years.
If it is distributed for life, the trust provides periodic distributions to a non-charitable beneficiary for a period not in excess of the life of this individual income beneficiary.
If it is distributed for two to five lives, the trust provides fixed periodic distributions to these non-charitable beneficiaries for a period not in excess of the lives of those individual beneficiaries.
