grantor-retained trust
- A type of irrevocable trust aimed to minimize estate tax by allowing the person who creates the trust to retain income from or use of the trust property for a certain period, after which the property is transferred to the pre-appointed beneficiaries
- Mr. Smith established a grantor-retained trust for the benefit of his children once they reach a certain age.
- Setting up a grantor-retained trust is a common strategy to reduce estate taxes.
- A grantor-retained trust allows the trustee to benefit from the property, while also planning for its future beneficiaries.
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