Irrevocable Gifting Trusts

Irrevocable gifting trust is an irrevocable trust (trust whose terms cannot be changed) which is a separate legal entity designed to receive and hold gifts of property (tangible or intangible). The beneficiaries are usually family members of the Grantor (the person who creates the trust) but can be other persons if desired.  The trust can be structured so that gifts contributed to it qualify for the annual gift tax exclusion amount.