Short answer: A grantor retained annuity trust (GRAT) is an irrevocable trust. You transfer assets to it, often an interest in your company, and keep the right to
Short answer: Generally, no. Florida Statutes § 732.201 and § 732.2065 give a surviving spouse the right to elect 30% of the deceased spouse’s elective estate. That estate
Advanced trust planning often asks clients to separate legal ownership, decision-making authority, and beneficial enjoyment. The right structure depends on which powers actually matter and what tax, protection, and family consequences follow from keeping or surrendering them.
An irrevocable trust can serve important tax, asset-protection, family, charitable, and succession objectives. The real question is whether giving up some ownership, access, control, or simplicity produces a benefit important enough to justify the trade.
Reducing the taxable estate and reducing a family’s total tax burden are not always the same thing. For highly appreciated assets, estate inclusion, basis adjustment, lifetime gifting, and future capital gain should be considered together.
