Source: wikibot/private-annuity-trust
= Private annuity trust
{wiki=Private_annuity_trust}
A Private Annuity Trust (PAT) is a financial instrument used primarily in estate planning and wealth transfer strategies. It allows an individual, usually a property owner or a business owner, to transfer assets into a trust while receiving an income stream from those assets for the rest of their life, or for a specified period.