A grantor retained annuity trust (commonly referred to by the acronym GRAT), is a financial instrument commonly used in the United States to make large financial gifts to family members without paying a U.S. gift tax.
Read more about Grantor Retained Annuity Trust: Basic Mechanism, Important Legal Cases, Patents
Famous quotes containing the words retained and/or trust:
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—Ralph Waldo Emerson (1803–1882)