Treasury just published the applicable federal rates of interest for July. Key interest rates used for valuations used in connection with some estate planning strategies follow:

IRC 7520  (120% of the midterm) Rate, that is used to value some interests such as QPRTs, GRATs and other estate planning strategies, is 0.6%.

Short-term Rate (less than 3 years) is 0.18%.

Mid-term Rate (3 years to less than 9 years) is 0.45%.

Long-term Rate (greater than 8 years) is 1.17%.

As was mentioned last month, these low interest rates can be exploited to shift wealth gift tax-free. Example: parents loan $100,000 to a child or grandchild for 8 years and 11 months and charge interest on that loan of 0.45% per year. Child invests the loan proceeds and earns, on average, 4% a year on the investments. There would be no implied gift to the child on that spread (earns 4%yet  pays .45%) despite the low interest rate charged, since the AFR for July was used as the interest rate charged on that intra-family loan.