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Grantor Deemed Owned Trusts are also know as Intentionally Defective Grantor Trusts. They are a powerful estate planning tool. In this second of a two part serious you will learn the technical aspects of IDGTs also known as GDOTs.
What is a Grantor Deemed Owned Trust( GDOT) also know as an Intentionally Defective Grantor Trust (IDGT)? A GDOT is a complete transfer to a trust for transfer tax purposes but an incomplete, or “defective,” transfer for income tax purposes. The trust is irrevocable for estate and gift purposes. Because the grantor does not retain any powers that would cause estate tax inclusion, the future value of the assets transferred is removed from the grantor’s gross estate on the date of the trust’s funding.
Learn more by viewing this session by Scott Hamilton, CEO of InKnowVIsion.