Given that many GRATS are now underwater and will not likely recover.
Grantor can purchase assets, acknowledge that the GRAT will fail and create a new GRAT with the assets.
If the GRAT contains an annuity payment and the grantor believes that that the underlining asset will still preform over the term of the GRAT, the annuity payments can be taken and new GRATs can be formed with these payments.
There is a potential that the the Code will be reformed and that a 10% remainder will be required. For those concerned about this forming a long term GRAT, at this time, may be a hedge against this risk.