Oakland Michigan Fideicomiso de anualidad retenida por el otorgante - Grantor Retained Annuity Trust

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

Description

This form is used for a grantor retained annuity trust. Oakland Michigan Granter Retained Annuity Trust (GREAT) is a type of irrevocable trust commonly used as an estate planning tool. In this context, Oakland refers to Oakland County, Michigan, where the trust is established. A GREAT allows the granter to transfer assets into the trust while retaining an annuity interest for a specific term of years. The primary purpose of an Oakland Michigan GREAT is to minimize estate taxes by transferring assets to beneficiaries while limiting the taxable value of the estate. The granter decides the duration of the annuity, typically ranging from 2 to 10 years, during which they receive fixed annuity payments from the trust. At the end of the annuity period, the remaining trust assets pass to the beneficiaries designated by the granter, often family members or loved ones. Keywords: Oakland Michigan, Granter Retained Annuity Trust, GREAT, irrevocable trust, estate planning tool, estate taxes, transfer assets, annuity interest, beneficiaries, annuity payments. Different types of Oakland Michigan Granter Retained Annuity Trust: 1. Standard Oakland Michigan GREAT: This refers to the basic form of a GREAT as described above, where the granter retains an annuity interest for a specified term, after which the remaining assets pass to beneficiaries. 2. Rolling Oakland Michigan GREAT: In a rolling GREAT, the granter creates a series of Grants with overlapping terms, allowing for continuous transfer of assets to beneficiaries. This approach can further enhance tax planning by reducing the impact of market fluctuations. 3. Granter Retained Unit rust (GUT): A GUT is similar to a GREAT, but instead of receiving fixed annuity payments, the granter receives a percentage of the trust's value, revalued annually. The granter retains an income stream while also potentially benefiting from the trust's growth. 4. Walton GREAT: The Walton GREAT, named after the Walton family, is a specific type of GREAT known for its longer annuity term. This type of GREAT is often used for asset protection and estate planning purposes. 5. Charitable Lead Annuity Trust (FLAT): While not specifically an Oakland Michigan GREAT, it is worth mentioning that FLAT is another type of trust where the annuity payments are directed towards a charitable organization for a specific term, with the remaining assets going to non-charitable beneficiaries afterward. Remember, it's crucial to consult with a qualified estate planning attorney to understand the specific legal and financial implications of creating an Oakland Michigan Granter Retained Annuity Trust or any other trust.

Oakland Michigan Granter Retained Annuity Trust (GREAT) is a type of irrevocable trust commonly used as an estate planning tool. In this context, Oakland refers to Oakland County, Michigan, where the trust is established. A GREAT allows the granter to transfer assets into the trust while retaining an annuity interest for a specific term of years. The primary purpose of an Oakland Michigan GREAT is to minimize estate taxes by transferring assets to beneficiaries while limiting the taxable value of the estate. The granter decides the duration of the annuity, typically ranging from 2 to 10 years, during which they receive fixed annuity payments from the trust. At the end of the annuity period, the remaining trust assets pass to the beneficiaries designated by the granter, often family members or loved ones. Keywords: Oakland Michigan, Granter Retained Annuity Trust, GREAT, irrevocable trust, estate planning tool, estate taxes, transfer assets, annuity interest, beneficiaries, annuity payments. Different types of Oakland Michigan Granter Retained Annuity Trust: 1. Standard Oakland Michigan GREAT: This refers to the basic form of a GREAT as described above, where the granter retains an annuity interest for a specified term, after which the remaining assets pass to beneficiaries. 2. Rolling Oakland Michigan GREAT: In a rolling GREAT, the granter creates a series of Grants with overlapping terms, allowing for continuous transfer of assets to beneficiaries. This approach can further enhance tax planning by reducing the impact of market fluctuations. 3. Granter Retained Unit rust (GUT): A GUT is similar to a GREAT, but instead of receiving fixed annuity payments, the granter receives a percentage of the trust's value, revalued annually. The granter retains an income stream while also potentially benefiting from the trust's growth. 4. Walton GREAT: The Walton GREAT, named after the Walton family, is a specific type of GREAT known for its longer annuity term. This type of GREAT is often used for asset protection and estate planning purposes. 5. Charitable Lead Annuity Trust (FLAT): While not specifically an Oakland Michigan GREAT, it is worth mentioning that FLAT is another type of trust where the annuity payments are directed towards a charitable organization for a specific term, with the remaining assets going to non-charitable beneficiaries afterward. Remember, it's crucial to consult with a qualified estate planning attorney to understand the specific legal and financial implications of creating an Oakland Michigan Granter Retained Annuity Trust or any other trust.

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.