A grantor trust is a legal entity created by an individual to hold and control their assets. The grantor can maintain control over the trust assets and appoint a trustee. The trust is typically revocable until the grantor’s death, at which point it becomes irrevocable. The successor trustee takes over management of the trust and […]
A Grantor Retained Annuity Trust (GRAT) is an irrevocable trust used in estate planning to reduce inheritance or gift taxes. The grantor receives a regular income for a set period, after which the remaining assets are transferred to a beneficiary. A Grantor Retained Annuity Trust (GRAT) is an estate planning tool used to reduce the […]
