On Friday, July 25, 2008, the IRS released Revenue Procedures 2008-45 and
2008-46 providing sample forms, annotations, and alternate provisions for inter
vivos and testamentary charitable lead unitrusts (CLUTs). These Revenue
Procedures follow Revenue Procedures 2007-45 and 2007-46 released last year for
charitable lead annuity trusts (see
Bulletin, No. 2008-30, July 28, 2008).
The suggested language is similar in many respects to that previously
provided for charitable remainder trusts and charitable lead annuity trusts and
to the form language used by many practitioners.
Sample forms are provided for both grantor and nongrantor inter vivos CLUTs
and for a lead period measured by one or more lives as well as a term of years.
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