Facebook and Estate Planning
By James F. McDonough, Jr. on May 18th, 2012
Facebook has grabbed the headlines, but behind the scenes key personnel have undertaken critical estate planning, proving that they are more than just technically savvy. Here’s how it worked.
The Wall Street Journal just reported that six of the insiders in Facebook established Grantor Retained Annuity Trusts (GRATs) last year. These trusts were established at a time when the estimated fair market value of the Initial Public Offering (IPO) was expected to be about $29 to $30 a share. Given that there are now reports that the IPO price may be significantly higher, this strategy would appear to be yielding an immediate benefit.
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