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Grantor Retained Trusts - nmbar

Grantor Retained Trusts - nmbar 2025

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The document is the Bar Bulletin for February 15, 2010, Volume 49, No. 7, published by the State Bar of New Mexico. It includes various sections such as articles on law practice management, recent court opinions from the New Mexico Court of Appeals, notices about legal education events and workshops, announcements regarding judicial vacancies and committee activities, as well as information on upcoming events like the State Bar's 124th birthday celebration. Additionally, it features a section on disciplinary administrative adjudications and highlights contributions from members of the legal community.

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What are the pros and cons of a grantor retained annuity trust?

The advantages of GRATs are its tax benefits and flexibility. It enables swapping of assets, if they underperform expectations. The disadvantages of GRATs are an absence of tax benefits to the beneficiary, if the grantor passes away during the trusts term.

Why would you want a grantor trust?

The typical purpose of the trust is to create a vehicle allowing the grantor to preserve the wealth he/she has accumulated in a trust that provides assets protection for their beneficiaries, minimizes the ultimate tax burden to the beneficiaries, and keeps the assets out of the grantors taxable estate at death.

What is the difference between a grantor trust and a trust?

Additionally, the grantor is responsible for informing the IRS of all losses or profits on his or her tax return. In comparison, a non-grantor trust is where the grantor has given up entire control of the trust. In a non-grantor trust, only the trustee has the power to terminate or revoke the trust.

What is a Grantor-Retained Trust?

Grantor-retained trusts are irrevocable trusts created to reduce estate taxes . With each, the grantor receives some form of income from the trust for a set amount of years, and then the property is transferred to a beneficiary free of estate taxes.

What is the difference between a GRAT and a grut?

In a GRAT, no additional contributions may be made to the trust. A GRUT may permit additional contributions since the trust assets are revalued each year. Initially, assets are transferred into trust and the grantor retains a fixed amount for a certain number of years.

What is the difference between a grantor trust and a regular trust?

Unlike a grantor trust, where the grantor is considered the owner of the trust property for tax purposes, a non-grantor trust is a separate legal and taxable entity. It has its own tax identification number (TIN) and files its own income tax return.

How can you tell if a trust is a grantor trust?

A trust also becomes a grantor trust if the creator of the trust has a reversionary interest greater than 5% of trust assets at the time the transfer of assets to the trust is made. ing to the IRS, any Revocable Trust is considered a Grantor Trust.

What makes a trust a non-grantor trust?

A non-grantor trust, in contrast, is a type of trust where the grantor relinquishes all control and benefits. Once this trust is established, it is considered a separate legal entity, with its operations and management entirely independent of the grantor.

Grantor Retained Trusts - nmbar 2025

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