Avoiding a GSTT Asteroid

"The odds that an estate will run afoul of the generation skipping transfer tax (GSTT) may be rather slim nowadays, but estate planners must never let down their guard against this virulent adversary. 

The GSTT sneaks up without warning and packs a powerful punch. Just the convoluted process of calculating this tax can send an estate planning professional into a black hole of despair. 

Let us review GSTT rules and strategies. But first, to set the GSTT in proper context, we must travel back through the time-space continuum to a more innocent time, before the GSTT existed, when the estate tax was the primary opponent for estate planning."

Posted by Matthew Engler, Managing Associate Editor.