Grantor-retained Interest Trust
Grantor-retained Interest Trust means:
a trust in which the grantor retains an income interest in property while giving away the principal interest. The donor receives a current income tax deduction that is equal to the present value of the interest in an asset given to a charity (using 10% present worth annuity tables).
See also other Tax Terms and Definitions in U.S.A.
residence grantor-retained interest trust.
See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.
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