Heresy or Prophecy: The Case for Limiting Estate Tax Inclusion of Grats to the Annuity Payment Right
Michael Whitty
HERESY OR PROPHECY: THE CASE FOR LIMITINGESTATE TAX INCLUSION OF GRATS TO THEANNUITY PAYMENT RIGHTMichael D. Whitty* Editors’ Synopsis: This Article begins by describing the controversy over the extent to which a grantor retained annuity trust, or GRAT, is included in the grantor’s taxable estate when the grantor dies within the GRAT’s primary term. The author reviews his prior article critiquing the stated position of the Internal Revenue Service and responds to one counter-critique that article...