grantor trust - a trust established to shift the income to someone who is taxed at a lower rate than the grantor for a period of 10 years or more Clifford trust trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the...
But these restrictions come with some significant advantages, particularly for the wealthy. The property in the trust isn't subject to estate taxes upon the death of the grantor because the grantor has given up ownership of those assets. They no longer contribute to the value of their estate. ...
Step-Up in Basis in a Distribution from an Irrevocable Grantor TrustCommito, Thomas F.Journal of Financial Service Professionals
Bypass trusts: This type of irrevocable trust for married couples allows a spouse to transfer their share of the estate to the surviving spouse at death. The surviving spouse may get income from and use the trust assets; but the trust’s beneficiaries, which the first spouse names, inherit ...