Two-Generation Limit on Generation Skipping Transfer Tax Exemption Endorsed

Raymond H. Young of Young & Bayle sent a recent letter to Catherine Hughes at the U.S. Treasury in support of a two-generation limit on the Generation Skipping Transfer Tax (GSTT) exemption and shared his belief that many other practitioners felt the same way.  Young opined that the extreme length of dynasty trusts was not fully appreciated even by detractors of the original exemption.

See Attorney Expresses Support for Two-Generation Limit on GSTT Exemption, 2010 TNT 144-22 (July 20, 2010).

Posted by James G. Haskell, Associate Editor, Wealth Strategies Journal.