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Strategies & Market Trends : Repeal the Estate Tax?
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To: donjuan_demarco who wrote (23)8/9/2000 1:07:26 PM
From: BWAC  Read Replies (1) of 30
 
Donjuan,

Have you ever run into a client that wanted to do an Intentionally Defective Grantor Trust IDGT? The paperwork and plan that has been presented to me by a client (a very late tothe game estate planner) looks to good to be true? It goes something like:

1.)Establish a LLC.
2.)Establish a trust with all client assets.
3.)The trust sells all assets to LLC, thus creating an Interest bearing Note and takes a higher than market interest rate as defined by certain IRS tables.
4.)The Note is defective in that it cancels upon the grantors death. Consideration given in the form of the higher than market interest rate.
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