A Crummey letter or Crummey notice is a written document explaining the terms of the Crummey power that’s being conferred to the beneficiaries. n order for gifts to be eligible for the annual gift tax exclusion, they must represent a present interest. That’s where the value of Crummey power comes into play. When you create a Crummey trust, you can include a provision that allows the beneficiaries to withdraw assets within a specified period. For instance, they might be able to withdraw assets in the 30 days following the creation of the trust.

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