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A GRAT is a type of trust that consists of two distinct terms: (i) a term of years (the GRAT term) during which the grantor of the GRAT receives an annuity payment based on the IRS rate in effect during the month the GRAT is funded and the fair market value of the assets used to fund the GRAT, and (ii) the remainder ...

A GRAT is a trust created so that individuals and families can move wealth to heirs while using little, if any, of their lifetime federal gift and estate tax exclusion. An individual would work with an attorney to set up an irrevocable trust and transfer assets into it.

In such a case, a GRAT may be used to freeze the value of their estate by shifting a portion or all of the appreciation onto their heirs. For example, if a person had an asset worth $10 million but expected it to grow to $12 million over the next two years, they could transfer the difference to their children tax-free.

Additional considerations when using a GRAT From an income tax perspective, during the GRAT term, the GRAT's income tax liability flows through to the grantor; during the remainder term, the tax liability will either flow through to the grantor or be paid by the trust, depending on how the remainder term is structured.

Any person, or any husband and wife jointly, that wants to adopt any person or people over the age of 18 may file a Petition for Adult Adoption with the Family Court. Where do I file my petition? You should file your petition in the county in which the Petitioner(s) or the person to be adopted lives.

In order for an adoption to be legally valid in Delaware, the following parties must give consent: The department or adoption authority involved in the adoption. The birth mother. The birth father/any presumed father of the child.