Earl drafts a will leaving his entire estate to a charitableremainder annuity trust (CRAT). The CRAT provides
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Question:
Earl drafts a will leaving his entire estate to a charitableremainder annuity trust (CRAT). The CRAT provides that Earl's surviving spouse, Helen, will receive an annuity from the trust for life and that when Helen dies, the remaining trust assets will pass to a local chapter of a national charity. Earl dies this year, and assets with a total fair market value of $10 million pass to the CRAT.
a) What is minimum annuity amount must be paid to Helen?
b) What is the minimum value of the remaining trust assets that will pass to a local chapter of a national charity?
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