Harless Tax Blog

Harless Tax Blog

The Argot of Trusts, as Told in Acronyms

Monday, April 14, 2014

NING, Ding, Grat. Ilit, Crat, Crut, Qtip. And for those with short memories, Slats. [Source: NYTimes.com]

Is this code? The output of a broken keyboard? No, they’re acronyms that are commonly bandied about when discussing trusts. Always a rarefied space, the world of trusts is now awash in Washington-style shorthand. Unlike with that alphabet soup of government agency jargon, spelling out the names of these acronyms does not necessarily make it clear what the trust does. A Grat, for example, is a grantor-retained annuity trust, but it has nothing to do with annuities or insurance of any kind. See More