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April 18th, 2011

What is a Grantor Retained Income Trust (“GRIT”)?

(Estate Planners) - A grantor retained income trust, which is also known by the acronym of GRIT, is a frequently used trust that can help to reduce the amount of estate tax that is due when a person passes away with a large estate. The Grantor retained income trust can also provide an income stream for the creator of the trust that provides a steady flow of money during their lifetimes while allowing their heirs to benefit from their wealth upon the trust creator’s death. Thus, the reason for the name, grantor retained income trust.

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