Generation-Skipping Planning: Steps to Take Now

Many clients ask about generation-skipping planning, or dynastic planning – ways to benefit future generations in a tax-efficient way.

This episode reminds listeners of the scheduled “sunset” of the GST tax exemption at the end of 2025 and steps to consider in light of those changes in the law. Donors, beneficiaries and trustees should take this opportunity to make sure all their records are complete regarding the GST tax status of any trusts. Steve recently wrote about these concepts in the ACTEC Law Journal and in a shorter essay in the journal Trusts & Estates.

This information will be critical when needed, which might be years from now. Although this information might be hard to track down, it will only get more difficult to collect later.