[Corrected] Congress has approved a war funding bill that does not include the new restrictions on grantor retained annuity trusts, or GRATs, that had appeared in an earlier version of the bill. The key provision imposes a minimum ten-year term on these trusts used in estate planning. Although the provision was eliminated from this law, it is likely to appear in later legislation as it is part of President Obama’s budget proposal.
For fuller discussion see our earlier reporting on this development: Last Gasp for Short GRATs?
Correction: An earlier version of this entry indicated that the GRAT restrictions were included in the bill as passed by Congress.
