For the moment, it is possible to form what's called a zeroed-out GRAT, in which the remainder is theoretically worth nothing so that there is no taxable gift.

FORBES

Wealth advisors have been telling clients all year that if you want to shift wealth to your kids or grandkids with a so-called GRAT, you should be doing one sooner rather than later.

FORBES: October Opportunity for GRATs and Family Loans

If the assets put in a GRAT appreciate faster than a set rate--4% a year for GRATs set up in December 2002--you pass on assets gift-tax free.

FORBES: Money & Investing

Then, he and his wife, Lee-Hwa, each transferred limited partnership shares into a GRAT.

FORBES: It's Never Too Early