The Generation-Skipping Transfer Tax: A Quick Guide

Mark Powell

Chapman University, The Dale E. Fowler School of Law

October 1, 2009

Sooner or later, every estate planner comes face-to-face with the generation-skipping transfer tax. Many practitioners do not feel up to the challenge because this particular tax as a reputation as being treacherous as the sea. This article helps identify situations that subject clients to the GSTT.

***NOTE: One sentence in the discussion about life insurance trusts is misleading as it was finally edited. The first sentence of the second paragraph in the Life Insurance Trust Issues section should say that if a transfer to an ILIT qualifies for the annual gift tax exclusion, it MAY ALSO be exempt from GST if the trust is drafted the right way. As published, the sentence makes it sound like annual gift tax exclusion gifts automatically qualify for GST exclusion, but it is not automatic. The trust must be designed the right way for contributions to qualify for both exclusions.

Number of Pages in PDF File: 6

Keywords: estate tax, generation-skipping transfer tax, GST, GSTT

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Date posted: May 3, 2010  

Suggested Citation

Powell, Mark, The Generation-Skipping Transfer Tax: A Quick Guide (October 1, 2009). Available at SSRN: http://ssrn.com/abstract=1598487 or http://dx.doi.org/10.2139/ssrn.1598487

Contact Information

Mark Powell (Contact Author)
Chapman University, The Dale E. Fowler School of Law ( email )
One University Drive
Orange, CA 92866-1099
United States
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