On-Demand

With the Generation-Skipping Transfer (GST) tax exemption at $5.25 million and indexed for inflation, interesting planning opportunities abound for clients, particularly married clients who can pass substantial wealth to their grandchildren and possibly subsequent generations. In particular, married clients can pass $10.5 million estate-tax free to a GST trust, providing for their children (in trust) during the children's lifetimes and then to their grandchildren, preserving significant wealth through the generations. This seminar, by G.P. Diminich, focuses on the impact of portability on GST planning, as well as the mechanics of GST planning. Specifically, the presentation analyzes the technical requirements of the GST tax, definitions and general rules, generation assignment, exceptions and exclusions,  allocation of the GST exemption, automatic allocation of the GST exemption, severances, and reverse QTIP elections, among other issues.