Transfer Opportunities in Advance of Legislative ChangeOne of the most effective wealth transfer strategies using marketable stock, “rolling” two-year GRATs will no longer be possible if legislation currently before the Senate is passed into law. In this article we examine several GRAT (and other) planning opportunities donors could pursue now, in advance of the possible legislative change. A number of factors should be weighed in the decision, including different strategies’ exposure to interest rate and market risk, their scalability, and perhaps most important of all, the donor’s expected longevity.
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Bernstein Wealth Management Research traces its roots back to 1967, when the firm was founded to manage investments for private families and individuals. Our mission soon grew to include investment research and institutional asset management, but private clients remained a central focus for our firm. As a unit of AllianceBernstein L.P., we manage some $109 billion (as of December 31, 2007) for a private clientele that includes some of the nation’s most prominent families and individuals. Please visit us at www.bernstein.com.