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Jeffrey Epstein, Harvard And The GrATS Hustle
Epstein is reported to have advised clients on deploying GRATs (Grantor Retained Annuity Trusts)—an estate planning vehicle that lets ultra-wealthy individuals pass appreciating assets to heirs while minimizing gift and estate taxes. Analysts say Epstein used his proximity to billionaires and his aura of financial wizardry to pitch these sophisticated tax-avoidance schemes. The strategy exploits a loophole in U.S. tax law: during the trust’s term, the grantor retains annuity payments, and if the trust’s investments outperform the assumed IRS rate, the excess passes to beneficiaries tax-free…
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