If you have ever sought the advice of an estate planning professional, you’ve probably heard of the generation-skipping transfer tax (GSTT). It is likely that you and your descendants will not b ...

the generation-skipping tax may be a financial option to consider. The Generation-Skipping Transfer Tax (GSTT) is a tax imposed on transfers that skip a generation, such as from parent to grandchild.

In 2018, as part of the “Trump tax cuts,” the federal estate, gift and generation-skipping transfer (GST) tax exemption was increased to $11,180,000, with annual increases for inflation.

Provisions within the Tax Cuts and Jobs Act of 2017 that helped wealthy individuals and families pass along sizable gifts tax ...

Often, this planning is coupled with a trust that is generation-skipping transfer tax exempt (and also a grantor trust) to improve multigenerational tax efficiency. The New Proposed Regulations ...

Unless Congress acts, on Jan. 1, 2026, the estate, gift and generation-skipping transfer (GST) tax exemption amounts will be cut in half. A decrease in the exemption amount could result in ...

An additional generation-skipping transfer tax — potentially up to 40% — can apply if you make these transfers to a grandchild or further descendant. There could be state-level estate or ...

Some tax professionals have been advising their clients that filing the IRS Form 706 Estate (and Generation-Skipping Transfer) Tax Return is not necessary for a surviving spouse. The reality is ...

Discover essential year-end financial strategies to increase your savings and reduce your tax burden. Don't miss out!

Be sure to minimize your estate taxes by knowing your gift, estate, and generation-skipping transfer tax limits, which may change yearly based on inflation. Consider provisions like a power of ...

The federal estate and gift tax exemptions are set to change in 2025, bringing new limits that affect gifting and estate ...