“Individuals who want to transfer wealth to their children may have a limited opportunity to put some assets in trusts that let them give the money tax-free.   Grantor-retained annuity trusts, known as GRATs, or irrevocable, intentionally defective grantor trusts allow the appreciation of certain assets to pass to heirs free of estate and gift taxes, said Brittney Saks, a partner in New York-based PriceWaterhouseCoopers’s Private Company Services.”