GST trust

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  • Nina
    Junior Member
    • May 2008
    • 3

    #1

    GST trust

    Hello! I have a question about GST: Grantor does not want to allocate any of his GST exemption to his gift (payment of premium to Irrevocable Life Insurance Trust) We are filing a gift tax return to elect out of the automatic allocation of his GST. Do we need also attach a statement to the gift tax return electing to have this trust treated as a GST trust? If yes, why? Thank you!
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