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Now Is the Time to Consider a GRAT |
October 15, 2004
Previously published on June 2003
The debate continues over whether Congress actually will repeal the estate tax. A one-year repeal is scheduled for the year 2010, but many seasoned observers believe that additional changes in the law will be forthcoming before then. Because of the possibility of repeal, however, many clients have put off plans to effect transfers of wealth during their lifetimes. Ironically, the present environment of low interest rates, together with a recent Tax Court decision, creates a unique opportunity to effect significant transfers of wealth with little or no estate or gift tax consequences by the use of a grantor retained annuity trust (or "GRAT").
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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