Fundamentals of Generation-Skipping Transfer Taxation
Identifying Skip Persons, Direct vs. Indirect Skips, Exemption Allocations, and More
A live 60-minute premium CLE/CPE video webinar with interactive Q&A
This CLE/CPE course will provide tax advisers with a practical guide to generation-skipping transfer (GST) taxation under current U.S. tax law. The panel will offer specific guidance on the mechanics of the GST, applicable tax rules, and reporting GSTs under various transfer scenarios. The panel will also outline the available elections and exemption provisions to minimize GST impact and avoid costly penalties.
Outline
I. Overview of how GST tax fits into the wealth transfer tax regime
II. Defining the rules governing when a GST takes place
A. Identifying skip persons
B. Direct skip transactions
C. Indirect skip transactions
III. GST exemption and allocation rules
IV. Illustration of a basic skip transaction and how to report
Benefits
The panel will discuss these and other important issues:
- Identifying "skip persons" and gifts that qualify as GSTs
- Direct skips vs. indirect skips
- Guide to Form 709 for gifts that must be reported but do not incur GST tax
- Calculating GST tax on taxable gifts
Faculty
I. Richard Ploss
Counsel
Porzio, Bromberg & Newman
Mr. Ploss is a member of the firm's Trusts and Estates Department. He concentrates his practice primarily on... | Read More
Mr. Ploss is a member of the firm's Trusts and Estates Department. He concentrates his practice primarily on estate planning for high net worth individuals and their businesses, estate administration, probate litigation and fiduciary income taxation in New Jersey and throughout the East Coast. He has extensive experience advising individual clients in the areas of wealth transfer planning and the preparation of estate planning documents. He is a Certified Public Accountant (CPA) in the state of Georgia, a Certified Financial Planner (CFP) and a Professional Registered Trust and Estate Practitioner. He frequently publishes articles and speaks on trust and estate matters and currently serves as an Adjunct Professor, teaching Trusts & Estates at the University of Maine Law School.
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Cannot Attend September 4?
Early Discount (through 08/08/25)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.