Nassau New York Fideicomiso de anualidad retenida por el otorgante - Grantor Retained Annuity Trust

• Category: Fideicomisos - Misc.
• State: Multi-State
• County: Nassau
• Control #: US-13197BG
• Format: Word

Description

This form is used for a grantor retained annuity trust. Nassau New York Granter Retained Annuity Trust (GREAT) is a specific type of trust that allows granters in Nassau County, New York, to transfer assets to beneficiaries while still retaining an annuity payment stream for a predetermined period of time. This legal instrument is commonly utilized for estate planning purposes to minimize estate taxes and facilitate wealth transfer to future generations. A Nassau New York GREAT is an irrevocable trust where the granter transfers assets such as cash, bonds, stocks, or real estate into the trust. The granter then becomes the annuitant and receives annual annuity payments from the trust for a specified number of years. After the annuity period expires, the remaining assets in the trust are passed on to the designated beneficiaries. By setting up a GREAT, granters can effectively remove the appreciated value of assets from their estate, potentially reducing estate tax liabilities. There are various types of Nassau New York GRANTS that granters can establish depending on their specific circumstances and objectives: 1. Standard GREAT: This is the most common type of GREAT where the granter receives a fixed annuity payment annually for the predetermined term of the trust, typically between 2 and 10 years. Any appreciation in trust assets beyond the required annuity payment goes directly to the beneficiaries free of gift and estate taxes. 2. Zeroed-Out GREAT: In this type of GREAT, granters structure the annuity payments in such a way that the present value of the retained annuity equals the value of assets initially transferred into the trust. By "zeroing out" the gift tax value, granters effectively transfer all future appreciation on the assets without utilizing any of their lifetime gift tax exemption. 3. Qualified Personnel Residence Trust (PRT): This GREAT variation is specifically designed for the transfer of personal residences or vacation homes. Granters can establish a PRT to transfer ownership of their primary residence or secondary property to beneficiaries at a reduced transfer tax cost. They retain the right to live in the property for a predetermined term, after which it passes on to the designated beneficiaries. 4. Granter Retained Income Trust (GRIT): Unlike a standard GREAT, a GRIT allows the granter to receive income from the trust rather than a fixed annuity payment. The granter continues to receive the income generated by the trust assets for the specified period, and at the end of the trust term, the remaining assets pass on to the beneficiaries, potentially reducing estate taxes. By utilizing a Nassau New York Granter Retained Annuity Trust, individuals can effectively navigate the complexities of estate planning and maximize the value of their assets for future generations. It is strongly advisable to consult with a qualified estate planning attorney or financial advisor to determine the most suitable type of GREAT based on individual circumstances and goals.

Nassau New York Granter Retained Annuity Trust (GREAT) is a specific type of trust that allows granters in Nassau County, New York, to transfer assets to beneficiaries while still retaining an annuity payment stream for a predetermined period of time. This legal instrument is commonly utilized for estate planning purposes to minimize estate taxes and facilitate wealth transfer to future generations. A Nassau New York GREAT is an irrevocable trust where the granter transfers assets such as cash, bonds, stocks, or real estate into the trust. The granter then becomes the annuitant and receives annual annuity payments from the trust for a specified number of years. After the annuity period expires, the remaining assets in the trust are passed on to the designated beneficiaries. By setting up a GREAT, granters can effectively remove the appreciated value of assets from their estate, potentially reducing estate tax liabilities. There are various types of Nassau New York GRANTS that granters can establish depending on their specific circumstances and objectives: 1. Standard GREAT: This is the most common type of GREAT where the granter receives a fixed annuity payment annually for the predetermined term of the trust, typically between 2 and 10 years. Any appreciation in trust assets beyond the required annuity payment goes directly to the beneficiaries free of gift and estate taxes. 2. Zeroed-Out GREAT: In this type of GREAT, granters structure the annuity payments in such a way that the present value of the retained annuity equals the value of assets initially transferred into the trust. By "zeroing out" the gift tax value, granters effectively transfer all future appreciation on the assets without utilizing any of their lifetime gift tax exemption. 3. Qualified Personnel Residence Trust (PRT): This GREAT variation is specifically designed for the transfer of personal residences or vacation homes. Granters can establish a PRT to transfer ownership of their primary residence or secondary property to beneficiaries at a reduced transfer tax cost. They retain the right to live in the property for a predetermined term, after which it passes on to the designated beneficiaries. 4. Granter Retained Income Trust (GRIT): Unlike a standard GREAT, a GRIT allows the granter to receive income from the trust rather than a fixed annuity payment. The granter continues to receive the income generated by the trust assets for the specified period, and at the end of the trust term, the remaining assets pass on to the beneficiaries, potentially reducing estate taxes. By utilizing a Nassau New York Granter Retained Annuity Trust, individuals can effectively navigate the complexities of estate planning and maximize the value of their assets for future generations. It is strongly advisable to consult with a qualified estate planning attorney or financial advisor to determine the most suitable type of GREAT based on individual 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.