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GRATs are GRReat

A Grantor Retained Annuity Trust (“GRAT”) should be considered by wealthy individuals as part of a tax efficient gifting pro¬gram designed to minimize gift and estate taxes. With a GRAT, a Grantor transfers property to an irrevocable trust. That trust makes annual payments of a specified amount back to the Grantor (hence the “Grantor Retained…

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