What you Need to Know About the Generation-Skipping Transfer Tax


Hiring an estate planning attorney could make all of the difference in your family's financial certainty.

As estate laws constantly change, and the economic landscape becomes increasingly unstable, the assurance of knowing that you have covered all the bases you need to cover can be worth more than its weight in gold (as the saying goes).

For example, in planning for the allocation and distribution of your assets on the event of your death, would you consider such taxes such as the generation-skipping transfer tax?

Would you know what it is?

The generation-skipping transfer tax (GST) is a 45% tax that is applied to estates that are either passed on to grandchildren, thereby skipping one's children, or to someone who is at least 37.5 years younger than the deceased.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Kevin L. Von Tungeln, Thompson | Von Tungeln, A P.C. | Attorney Advertising

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