If you have property that's rapidly appreciating or generating high earnings, and you're ready to pass it down to your children or other heirs but want to continue receiving income from the property for a period of years a grantor retained annuity trust (GRAT) may be a great strategy for you. The goal of a GRAT is to transfer property with minimal gift tax consequences.
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I have an irrevocable trust with my three sons named as beneficiaries. Can only one son draw money out of that account or do all three have to sign? Read Answer