Understanding the generation-skipping transfer tax

04/28/2014 | WealthManagement.com (U.S.)

Advisors should be aware of the impact of the generation-skipping transfer tax on client asset transfers. This article describes the genesis and operation of the GST, a tax generally applied to asset transfers to any generation beyond a client's children. Since the GST is nonportable, the author cautions that it's important to plan for the total deployment of the amount through testamentary or lifetime dispositions and offers tips to maximize the GST exemption.

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