medium · Certified Financial Planner Estate Planning
The Ainsley ILIT is designed to ensure contributions qualify for the gift tax annual exclusion. The trust document includes a provision that limits the annual lapse of withdrawal rights to the greater of $5,000 or 5% of the trust assets, while any excess remains exercisable in future years.
What is the technical term for this drafting device?
- Spray Provision
- Crummey Power
- Hanging Power
- Power of Appointment
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