Time is Running Out on GRATS

Grantor-retained annunity trusts (GRATS) have been a favorite estate planning tool to minimize gift taxes for larger estates. Congress is seriously considering a bill that, among other loophole-plugging items, will change the two-year term to a minimum ten-year term for any GRAT. If you presently have, or are considering setting up a GRAT, there’s no time to waste to get the ball rolling. Call your ELLS advisor to arrange an appointment to review your options.