An important benefit is the tremendous savings in transfer taxes by excluding trust property from the gross estate. The use of an OAPT to achieve IGT status significantly increases the economic value of the gift to a donee while at the same time, reduces estate tax liability. Many individuals could benefit by reevaluating their current estate plan. However, before implementing any changes to your existing estate plan, an individual must be careful to review all the facets of their decision with an advisor in order to avoid adverse legal, tax and business consequences. P.C. This World Wide Web site and the information and materials available through the site are made available only in accordance with certain terms and conditions and provides general Information.
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