In part two, we discuss when a grantor retained annuity trust, a type of irrevocable trust, is appropriate to help you retain more of your inherited wealth keeping your tax consequences to a minimum. When setting up a grantor retained annuity trust, the grantor specifies a term then transfers specific assets into the trust. The grantor then receives fixed, annual annuity payments for the term of the grantor retained annuity trust set at a rate in accordance with IRS guidelines. When the term expires, whatever assets remain in the grantor retained annuity trust are distributed to the trust beneficiaries.
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