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The U.S. generation-skipping transfer tax (a.k.a. "GST tax") imposes a tax on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than 37.5 years younger than the donor or to related persons more than one generation younger than the donor, such as grandchildren. [1]
Generation-Skipping Transfer Tax Considerations. Contributions to 529 plans may also help address generation-skipping transfer (GST) tax concerns. Since 529 plans can benefit grandchildren or ...
Generation-Skipping Trusts (GSTs) Kilday explained that generation-skipping trusts enable you to transfer assets directly to grandchildren or future generations — bypassing estate taxes that ...
A dynasty trust is a trust designed to avoid or minimize estate taxes being applied to family wealth with each subsequent generation. [1] By holding assets in trust and making well-defined (or even no) distributions to beneficiaries at each generation, the assets of the trust are not subject to estate, gift or generation-skipping transfer tax (GST) taxes.
An additional generation-skipping transfer (GST) tax is imposed by the federal and some state governments on transfers to grandchildren (or their descendants). Estate tax returns as a percentage of adult deaths, 1982–2008.
Also called the generation-skipping tax, this federal tax … Continue reading → The post What Is the Generation-Skipping Transfer Tax? appeared first on SmartAsset Blog.
The maximum estate tax, gift tax, and generation-skipping tax rate, which was 55% in 2001 (with an additional 5% for estates over $10,000,000 in order to eliminate the benefit of the lower estate tax brackets) was reduced to 50% in 2002, with an additional 1% reduction each year until 2007, when the top estate tax rate became 45%.
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