Grantor Retained Interest Trusts
A Grantor Retained Interest Trust (GRT) is an irrevocable trust that you transfer assets to, such as a personal residence, closely held business interest, or other assets that generate income and have the potential to appreciate substantially, while retaining an interest for a period of years. At the end of the period of years, the assets in the trust pass to your beneficiaries, such as child or grandchild, or to another trust for their benefit. The main advantage of a GRT is Federal estate tax savings where estate taxes are certainly going to be paid.
There are several types of GRTs–grantor retained income trusts, grantor retained annuity trusts, grantor retained unitrusts, and qualified personal residence trusts. In all of these types of trusts, you are making a current gift of a future interest in the assets of the trust to your beneficiaries.
Other advantages include protection from will contests and public scrutiny.
Our firm regularly assists affluent families with such sophisticated planning strategies as GRTs.
Discover for yourself why we are the firm of choice. For more information on Concannon, Miller & Co., contact us today or call 855-395-5942 (Pennsylvania) or 855-395-5944 (Florida).
