How to Pronounce "grat"
word
ɡræt
GRAT
ɡræt
GRAT
Definition
A 'GRAT' is a legal and financial term meaning 'Grantor Retained Annuity Trust', a special kind of trust used in estate planning to minimize taxes when passing on assets.
IPA Transcription
American English
ɡræt
British English
ɡræt
Simplified Pronunciation
US
GRAT
UK
GRAT
Listen in Context
A GRAT can help families reduce estate taxes.
My lawyer recommended setting up a GRAT.
A GRAT pays an annual income to the grantor for a fixed time.
Only wealthy individuals usually bother to create a GRAT for their estate plans.