Tax Correspondence to IRS: Request for Clarification of Uncertainty with Respect to Charitable Remainder Trusts

Mark Kenny of Union Bank wrote a correspondence to the IRS in response to Notice 2010-19.  The correspondence mentions that because charitable remainder trusts ("CRTs") are not grantor trusts, Notice 2010-19 creates an ambiguity in regards to the funding of them.  It  argues that this ambiguity could cause a material reduction in the funding of CRTs, and that many wealth planners are refraining from forming CRTs until this ambiguity is clarified.