- The definition of GRATs are Grantor Retained Annuity Trust accounts, financial instruments which allow family members to give large financial gifts to other family members without paying a U.S. gift tax.
An example of GRATs is when a wealthy grandfather sets up trust accounts for each of his grandchildren for $250,000 and then they receive the money after he dies.
- The definition of grats is a shortened form of congratulations, to express happiness for something or someone.
An example of grats is what you'd write in a Facebook post to someone who just got a new job.
- plural form of grat