The generation-skipping trust (GST) is a great tool in many cases for grandparents to transfer wealth to their grandkids. Advantages of GSTs include avoiding double taxation and shielding assets from ...
The Internal Revenue Code imposes both gift and estate taxes on transfers of assets above certain limits. For 2020, you can exclude gifts of up to $15,000 per person from the gift tax, with the limit ...
The generation-skipping transfer tax (GSTT) is a federal tax on transfers of assets to anyone more than one generation below the person making the transfer. The IRS definition of one generation below ...
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