Queens New York Fideicomiso de ingresos retenidos del otorgante con división en fideicomisos para su emisión después del plazo de años - Grantor Retained Income Trust with Division into Trusts for Issue after Term of Years

• Category: Fideicomisos - Irrevocables - Disposiciones para gastos indebidos
• State: Multi-State
• County: Queens
• Control #: US-0678BG
• Format: Word

Description

Grantor-retained income trust or GRIT is an irrevocable trust established in a written trust agreement whereby the grantor transfers assets but retains the income from or the use of these assets for a stipulated period of time. The net income is distribut Queens New York Granter Retained Income Trust with Division into Trusts for Issue after Term of Years is a sophisticated estate planning tool that allows individuals to transfer assets to their beneficiaries while still maintaining control and receiving income during their lifetime. This type of trust is highly customizable and can be tailored to meet the specific needs and goals of the granter. A Granter Retained Income Trust (GRIT) is created when the granter transfers assets, such as real estate, stocks, or business interests, into an irrevocable trust and retains the right to receive income from the trust for a specified period of time. The income received by the granter from the trust is typically fixed, either as a fixed dollar amount or a percentage of the trust's value. The granter retains control over the trust during this period. The Division into Trusts for Issue after Term of Years is an additional feature that can be added to the Queens New York GRIT. This feature allows for the assets remaining in the trust after the specified term to be divided into separate trusts for the benefit of the granter's chosen beneficiaries, typically their children or grandchildren. The division into trusts ensures that the assets are protected and distributed according to the granter's wishes after their passing. This estate planning strategy offers several benefits. Firstly, it allows the granter to enjoy a steady stream of income during their lifetime. This can be particularly useful for individuals who rely on the income generated by their assets for their day-to-day expenses. Secondly, it allows for the transfer of wealth to future generations with potential tax advantages. By transferring assets to the trust, the granter removes them from their taxable estate, potentially reducing estate taxes upon their passing. Some types of Queens New York Granter Retained Income Trusts with Division into Trusts for Issue after Term of Years include: 1. One-generation GRIT: This type of GRIT allows the granter to retain income for a specific period, usually their lifetime, and then distribute the remaining assets to their chosen beneficiaries. 2. Multi-generation GRIT: This GRIT extends the period during which the granter retains income beyond their lifetime. The income may continue to be distributed to their children or grandchildren over several generations before the remaining assets are eventually divided into separate trusts. 3. Charitable GRIT: In this type of GRIT, the income generated from the trust is directed towards a charitable organization or foundation of the granter's choice. After the specified term, the remaining assets can be distributed to both charitable and non-charitable beneficiaries. Queens New York Granter Retained Income Trust with Division into Trusts for Issue after Term of Years offers individuals a powerful estate planning option to control their assets, receive income during their lifetime, and efficiently transfer wealth to future generations. It is advisable to consult with a qualified estate planning attorney to understand the legal and financial implications of this trust and to create a personalized plan that aligns with one's unique circumstances and goals.

Queens New York Granter Retained Income Trust with Division into Trusts for Issue after Term of Years is a sophisticated estate planning tool that allows individuals to transfer assets to their beneficiaries while still maintaining control and receiving income during their lifetime. This type of trust is highly customizable and can be tailored to meet the specific needs and goals of the granter. A Granter Retained Income Trust (GRIT) is created when the granter transfers assets, such as real estate, stocks, or business interests, into an irrevocable trust and retains the right to receive income from the trust for a specified period of time. The income received by the granter from the trust is typically fixed, either as a fixed dollar amount or a percentage of the trust's value. The granter retains control over the trust during this period. The Division into Trusts for Issue after Term of Years is an additional feature that can be added to the Queens New York GRIT. This feature allows for the assets remaining in the trust after the specified term to be divided into separate trusts for the benefit of the granter's chosen beneficiaries, typically their children or grandchildren. The division into trusts ensures that the assets are protected and distributed according to the granter's wishes after their passing. This estate planning strategy offers several benefits. Firstly, it allows the granter to enjoy a steady stream of income during their lifetime. This can be particularly useful for individuals who rely on the income generated by their assets for their day-to-day expenses. Secondly, it allows for the transfer of wealth to future generations with potential tax advantages. By transferring assets to the trust, the granter removes them from their taxable estate, potentially reducing estate taxes upon their passing. Some types of Queens New York Granter Retained Income Trusts with Division into Trusts for Issue after Term of Years include: 1. One-generation GRIT: This type of GRIT allows the granter to retain income for a specific period, usually their lifetime, and then distribute the remaining assets to their chosen beneficiaries. 2. Multi-generation GRIT: This GRIT extends the period during which the granter retains income beyond their lifetime. The income may continue to be distributed to their children or grandchildren over several generations before the remaining assets are eventually divided into separate trusts. 3. Charitable GRIT: In this type of GRIT, the income generated from the trust is directed towards a charitable organization or foundation of the granter's choice. After the specified term, the remaining assets can be distributed to both charitable and non-charitable beneficiaries. Queens New York Granter Retained Income Trust with Division into Trusts for Issue after Term of Years offers individuals a powerful estate planning option to control their assets, receive income during their lifetime, and efficiently transfer wealth to future generations. It is advisable to consult with a qualified estate planning attorney to understand the legal and financial implications of this trust and to create a personalized plan that aligns with one's unique circumstances and goals.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.