Marilyn and Earl establish a trust benefiting their grandchild, Courtney, age 4. Courtney is to receive the accumulated income and corpus when she reaches age 30. In the year of the transfer, Courtney has a two- week period in which to request distributions. This trust is a

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This trust is a Crummey trust. The mention of a two-week period for requesting distributions indicates that the trust is structured with Crummey powers, allowing the trust to qualify for the gift tax exclusion. Courtney's ability to withdraw the money during this two-week period prevents the gift from being considered a gift of a future interest and instead qualifies it as a present interest, making it eligible for the annual gift tax exclusion.

Marilyn and Earl Establish a Trust Benefiting Their Grandchild, Courtney