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The trust allows the trustee to gift from the trust to the current beneficiarys issue up to the annual gift exclusion (currently $15K).
A gift in trust is a special legal and fiduciary arrangement that allows for an indirect bequest of assets to a beneficiary. The purpose of a gift in trust is to avoid the tax on gifts that exceed the annual gift tax exclusion limit. This type of trust is commonly used to transfer wealth to the next generation.
Unlike assets of a certain amount surrendered to irrevocable trusts, assets in a revocable trust are not subject to gift tax. Also, revocable trust assets are not protected from creditors.
A Giftrust is an irrevocable trust that was set up (by a grantor) to be a one-time gift to another person (the beneficiary). The trust has a maturity date, which is when control of the money will transfer to the beneficiary. Grantors choose the maturity date at the time the trust is established.
Transfers to an irrevocable trust are generally subject to gift tax. This means that even though assets transferred to an irrevocable trust will not be subject to estate tax, they will generally be subject to gift tax.

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With an irrevocable trust, you as the grantor can maintain some control over the assets. You get to choose the trustees and establish the rules of the trust. You can also retain the right to change beneficiaries with a power of appointment in your will. Asset protection from creditors.
Gift Tax Treatment Any transfer to the grantor trust will be subject to gift taxes unless consideration of equal value is received by the grantor in return. The funding of a grantor trust with the initial gift typically will be a taxable gift, but most often sheltered by the lifetime exclusion amount.
A Giftrust is an irrevocable trust that was set up (by a grantor) to be a one-time gift to another person (the beneficiary). The trust has a maturity date, which is when control of the money will transfer to the beneficiary. Grantors choose the maturity date at the time the trust is established.
A gift trust is available as a discretionary trust which means the plan holder can add to their list of discretionary beneficiaries at any time and the trustees have flexibility to make payment to any of these beneficiaries. Its also available as a bare trust, which makes sure the beneficiaries are fixed.
The Irrevocable Trust is often used to make gifts in the following circumstances: 1. Life Insurance. Making gifts of life insurance policies (and the periodic amounts necessary to pay the premiums) to an irrevocable trust allows the life insurance death benefit, to pass without estate tax.

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