Charitable Remainder Annuity Trust
An annuity trust is usually used if you want fixed payments every year. In this case, you create a trust and receive fixed payments for life. A minimum 5% of the assets contributed to the trust is required to be paid to you, regardless of trust performance. The principal can be utilized to satisfy the required payout, however, no additional contributions to the principal can be made after the trust is established. The remaining assets ultimately are distributed to Pratt.