An intentionally defective grantor trust is an estate-planning tool that is used to freeze certain assets of an individual for estate tax purposes, but not for income tax purposes. It is created as a grantor trust with a loophole that allows the trustor to continue paying income taxes on certain trust assets, as income tax laws will not recognize that those assets have been transferred away from the individual.
Because the grantor must pay the taxes on all trust income annually, the assets in the trust are allowed to grow tax-free, and thereby avoid gift taxation for the grantor’s beneficiaries. Thus, it is a loophole used to reduce estate tax exposure. This form contains some alternate provisions that the user may modify to suit the particular desires and needs of the grantor.
Tampa Florida Intentionally Defective Grantor Trust
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Tampa has a relatively low cost of living, particularly compared to many other major cities in Florida. The overall cost of living is 5% lower than the national average. Housing also tends to be cheaper in Tampa than in many other places, including other cities in Florida, like Miami.
Ing to a recent study by Smart Asset, single adults living in Tampa, St. Petersburg, and Orlando must have an average salary range of $94,000 to $100,000 to live comfortably. ?Most people in west Tampa and east Tampa make nowhere near that number,? said Coney.
Tampa's port is now the seventh largest in the nation; today phosphate shipping is supplemented by trade in shrimp. A pleasure cruise line operates as well. In 1886 Vicente Martinez Ybor established a cigar factory in Tampa.
Tampa is renowned as the ?Cigar City? because Cuban cigars are so well-known there. Tampa's long-standing relationship with Cuban cigars began with the Ybor City location of the Sanchez y Haya cigar factory opening its doors in April 1886. Since then, there are now more than 200 cigar factories in Tampa.
Beyond the beautiful landscape, Tampa offers award-wining cuisine, prisine beaches, major sports teams and more. And did we mention our shiny new Michelin stars?
Some of the top reasons why Tampa Bay is seeing an influx from this demographic is because of the job opportunities, the low start-up cost for businesses compared to other cities, and the growing technology seen here.
In general, Tampa is well-known for its bustling Ybor City, which is where visitors may learn why the city is sometimes referred to as the Cigar Capital of the World. Busch Gardens and the Florida Aquarium are just two of the many breathtaking museums and amusement parks that can be found in the Tampa area.
Hillsborough County
Beyond the beautiful landscape, Tampa offers award-wining cuisine, prisine beaches, major sports teams and more. And did we mention our shiny new Michelin stars?
Top 10 Tampa Classics You Can't-Miss 1 ? Cuban Sandwich. The Cuban Sandwich is a delicious legacy of the Cuban immigrants in Ybor City, Tampa. ... 2 ? Deviled Crabs. ... 3 ? Grouper Sandwich. ... 4 ? Chicharrones. ... 5 ? Stone Crab Claws. ... 6 ? Empanadas. ... 7 ? Key Lime Pie. ... 8 ? Spanish Bean Soup.
