(January 21, 2009, Weil Gotshal News)
January 21, 2009, NEW YORK - Carlyn S. McCaffrey, a partner in the New York office of Weil, Gotshal & Manges LLP and head of the firm's Trusts & Estates Department, appeared in theWall Street Journal's print edition today on estate planning trends in the current recessionary economic climate.
In a section of an article by Tom Herman and Mike Spector titled "Tough Times Are Good Times To Trim Estates," focused on the benefits of "grantor-retained annuity trusts" or GRATs in a time characterized by "beaten down prices and sagging interest rates," Ms. McCaffrey stated, "'What we're looking at is a perfect combination of conditions for GRATs, at least for people who have some degree of optimism about the economy.'" The strategy is considered particularly timely given the looming possibility of substantial revisions to estate taxes by the incoming Administration and Congress.
In a section of an article by Tom Herman and Mike Spector titled "Tough Times Are Good Times To Trim Estates," focused on the benefits of "grantor-retained annuity trusts" or GRATs in a time characterized by "beaten down prices and sagging interest rates," Ms. McCaffrey stated, "'What we're looking at is a perfect combination of conditions for GRATs, at least for people who have some degree of optimism about the economy.'" The strategy is considered particularly timely given the looming possibility of substantial revisions to estate taxes by the incoming Administration and Congress.
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