Transfer of an Interest in Trust: Section 2702


Lawmakers long have struggled to control abusive estate planning strategies without limiting techniques that adhere to the letter and intent of the law. Revisions enacted decades ago to eliminate the abusive Grantor Retained Income Trust (GRIT) strategy went too far, catching practices that were not abusive. The Revenue Reconciliation Act of 1990's Section 2702 corrected that, and today governs GRITs and other partial interests. Gain a practical understanding via real-life examples that will ensure compliance with this important and far-reaching section.