TELESEMINAR: Generation Skipping Transfer Tax Planning – A National Perspective
September 5, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
The Generation Skipping Transfer Tax (GSTT) imposes a tax on property transfers among generations of a family and is intended to prevent tax reduction when a senior generation skips transfers to their children in favor of grandchildren. The tax is one of the most complex elements of estate planning, involving skip and “non-skip” persons, generation assignments, identifying which events are taxable and which are not. Planning has been further complicated with the recent revision of the federal estate and gift tax regime, including expiration of the GSTT safe harbor. Still, there are sophisticated planning techniques using dynasty and “HEET” trusts to reduce the incidence of the tax. This program will provide you with a framework for understanding and planning with the GSTT, including use of dynasty and HEET trusts, and compliance trips and traps.
- Framework of the GST – skip v. non-skip persons, taxable events, generation assignments, inclusion ratios
- Exemption planning for maximum tax and financial benefit
- Sophisticated planning techniques using dynasty trusts and HEET trusts
- Relationship of GST regime to new estate and gift tax law
- Pitfalls of reporting on Form 709
Blanche Lark Christerson, Deutsche Bank Private Wealth Management, New York
Daniel L. Daniels, Wiggin and Dana, LLP, Connecticut