Residence Grantor-retained Interest Trust

Residence Grantor-retained Interest Trust

Residence Grantor-retained Interest Trust means:
a trust to which the grantor transfers a residence but retains the right to use it for a specified term. The grantor's spouse can remain in the house for life as well. Afterward, ownership passes to the designated beneficiaries (often the grantor's children). The residence passes to the beneficiaries at a discount from existing values for purposes of the gift tax. Moreover, future appreciation is not included in the grantor's estate.


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