Glossary Terms

A trust designed to receive transfers/gifts from the Grantor during life and/or at death to benefit a person with a disability without disqualifying the beneficiary from receiving public [...]

A revocable or irrevocable trust established by vacation or heirloom property owners for their benefit and for future generations, setting out terms such as Allocation of ownership… Read More

The federal generation skipping transfer tax (GSTT) exemption is the same as the estate and gift tax exemption. Read More

A complex irrevocable trust arrangement designed to receive a transfer of an appreciating asset, like privately held business stock, that will in return give the Grantor a payment (annuity). Read More

An irrevocable trust under which the Grantor transfers up to two homes to the trust but retains an interest for a term of years, at little “gift cost” (small use of the gift /estate exclusion). [...]

This type of irrevocable trust allows the Grantor to protect their own assets against their own creditors, while still being able to access the principal for their own use… Read More

This irrevocable trust represents a gift usually to the spouse and heirs of the Grantor. Read More

Charitable Remainder Trust – or CRT. This Trust is a creature of statute and comes in two basic varieties: a Charitable Remainder Trust and a Charitable Lead Trust. Read More