Trending searches: how much money did trump inherit
grot the trust designed pass wealth between generations in 1995 Donald Trump and his siblings began to take ownership of most of their father's real estate empire while avoiding hundreds of millions of dollars in taxes they did so by creating to grant or retained annuity trusts also known as grads one for dad and one for Mom taxes are paid based on the final value of the Gras and this gave the trumps every incentive to lowball the value of the assets that's exactly what they did take for instance the Fountainbleu apartments in 1982 the Trump's valued 164 unit complex at fifteen point three million dollars but for the purposes of the grot they said it was worth just 2.9 million dollars they then broke up the ownership of the apartments giving almost half to Mary Trump Fred Trump's wife this allowed them to tell the IRS that Fred Trump who had exercised iron-fisted control over every brick of his empire for 70 years was a minority owner with no real say over his buildings this reduced the value of the empire by an additional 45% which dropped a fountain blues value to just 1.6 million dollars using the same aggressive techniques and Trump's transferred nearly all of Fred Trump's real estate holdings into the Graz including several shopping centers and more than 6,500 apartment units the siblings bought the assets with money from their father's businesses and mum and dad gave them the rest when the grat transfer was completed in 1997 the Trump's claimed that those 6,500 apartments were worth just 41 million dollars 8 years later the same property sold for more than six hundred and seventy million dollars meaning the Trump's avoided paying hundreds of millions of dollars in taxes