GST and Form 709: Fundamentals of Generation-Skipping Transfer Tax Reporting

Identifying Skip Persons, Direct vs. Indirect Skips, Exemption Allocations and More

A live 110-minute CPE webinar with interactive Q&A

Thursday, August 24, 2017 (in 3 days)
1:00pm-2:50pm EDT, 10:00am-11:50am PDT

This webinar will provide tax advisers and compliance professionals with a practical introduction to the fundamentals of generation-skipping transfer (GST) tax rules. The panel will offer useful guidance in identifying potential GST tax issues, and attendees will gain a solid grounding in the basics of the GST tax reporting regime.


A significant challenge for estate advisers and compliance professionals is navigating the GST tax, which has the reputation as being among the most complex tax rules. However, the basic mechanics of the GST tax regime can be reduced to identifying situations in which inter-generational transfers are designed to circumvent estate or gift tax liability.

Tax advisers serving high net worth individuals, as well as fiduciary compliance professionals, need to understand the fundamentals of the GST tax to avoid unnecessary tax cost.

A GST occurs when a person gifts or bequeaths property to a person who is two or more generations younger (37.5 years) than the person transferring the property. The recipient of a GST is termed a “skip person.” The GST tax is designed to prevent taxpayers from avoiding estate or gift taxes by imposing a flat tax on any gifts to skip persons in excess of the GST estate tax exemption amount.

There are two types of GSTs, direct skips and indirect skips. Tax advisers must be able to identify both types of transfers subject to the tax to calculate exemption amounts and properly report GSTs on Form 709.

Listen as our experienced panel provides practical guidance on allocating GST exemptions and on the elections available to tax advisers and compliance professionals to minimize the impact of GST tax.


  1. Overview of how GST tax fits into the wealth transfer tax regime
  2. Defining the rules governing when a GST takes place
    1. Identifying skip persons
    2. Direct skip transactions
    3. Indirect skip transactions
  3. GST exemption and allocation rules
  4. Intro to Form 709
  5. Illustration of a basic skip transaction and how to report


The panel will discuss these and other important issues:

  • Identifying “skip persons” and gifts that qualify as GSTs
  • Keeping track of exemption amounts accumulated over multiple years
  • 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

Learning Objectives

After completing this course, you will be able to:

  • Recognize transfers that are subject to GST tax reporting requirements
  • Distinguish between direct skip persons and indirect skip persons
  • Identify filing requirements on Form 709 to report GSTs
  • Discern how to calculate GST exemption amounts


Daniel L. Daniels, Partner
Wiggin and Dana, Greenwich, Conn.

Mr. Daniels focuses his practice representing business owners, private equity and hedge fund founders, family offices, corporate executives and other wealthy individuals and their families. He is a co-author of Trusts and Estates Legal Strategies (2008 Aspatore Books) and has written for various publications, including Trusts and Estates magazine, Estate Planning magazine, Practical Tax Strategies magazine, the National Law Journal and Exempt Organization Review. He also has been quoted on trust and tax-related subjects in the Wall Street Journal, Kiplinger's Personal Finance and Financial Planning.

Tracy J. Roberts, Partner
Powell Roberts, Costa Mesa, Calif.

Ms. Roberts focuses her practice on estate planning. She has over 19 years of experience in estate planning, trust administration, probate law and charitable planning. She spent the early years of her career in the trusts and estates practices at some of the largest law firms in Southern California. 

Scott K. Tippett, Atty
The Tippett Law Firm, Oak Ridge, N.C.

Mr. Tippett's practice focuses on wealth law, as a comprehensive and integrated approach to domestic and international estate planning, asset protection planning, business matters, and tax issues. He is the principal author of The North Carolina Wealth Law Counselor and The Wealth Lawyer, informative blogs dedicated to wealth law, estate planning, and asset protection planning issues.

Registration per Person for Live Event

Additional lines for this conference can be purchased at 25% off. For orders of five or more lines, further discounts will apply and will be automatically reflected in the cart.

Live Webinar $147.00

Live Webinar & CPE Processing $182.00

CPE per Person on Live Event

Continuing Professional Education credit processing is available for an additional fee. CPE processing must be ordered prior to the event. To qualify for CPE you may not listen via the telephone.

This program is eligible for 2.0 CPE credits.

  • Field of Study: Taxes.
  • Level of Knowledge: Basic.
  • Advance Preparation: None.
  • Teaching Method: Seminar/Lecture.
  • Delivery Method: Group-Internet (via computer).
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of verification codes announced throughout the presentation.
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization preparing complex tax forms and schedules. Specific knowledge of estate and gift tax rules and reporting; basic familiarity with exemption calculations, generation skipping taxes and portability of spousal lifetime exclusions.

NOTE: CPE credit processing for all attendees must be ordered by 2pm Eastern the day of the program to receive a Certificate of Attendance within 24 hours.


Recorded Event

Includes full event recording plus handouts (available after live webinar).

Note: Self-study CPE and EA credits are not offered on recorded events.

Recorded Webinar Download $147.00
Available 48 hours after the live event

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Recorded Audio Download (MP3) $147.00
Available 24 hours after the live event

How does this work?

DVD (Slide Presentation with Audio) $147.00 plus $9.45 S&H
Available ten business days after the live event

How does this work?

Registration Plus Recorded Event

Best value!

Live Webinar & Webinar Download $194.00

Recorded Webinar Download Only $47.00 with Registration/Webinar Combo

Live Webinar & Audio Download $194.00

Recorded Audio Download (MP3) Only $47.00 with Registration/MP3 Combo

Live Webinar & DVD $194.00 plus $9.45 S&H

DVD (Slide Presentation with Audio) Only $47.00 with Registration/DVD Combo


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EA Credit

Strafford is an IRS approved continuing education provider and this course is approved for 2 enrolled agent (EA) credit hours.

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Customer Reviews

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Joanna Johnston

Savas Greene & Company

Excellent seminar! It was efficient and the important topics were covered at just the right pace; no time was wasted covering information that the participants already knew.

Rhonda G. Williams, CPA

Barraclough & Associates

The conference was technical, informative and presented at a good pace.

Krystal Ching


I appreciated the flow of the information offered and the ease at which I could follow the handouts.

Larry Bruck

WISS & Company

I liked the concentration on specific issues and examples.

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Komisar Brady & Co.

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