Estate Planning
4 months ago
Generation-skipping trust — when does it make sense and how does the GST tax work?
20
My parents are worth about $8M and want to leave a significant portion directly to my children (their grandchildren) rather than to me. Their attorney mentioned a generation-skipping trust to avoid estate tax being applied twice (once when they leave it to me, then again when I leave it to my kids). How does the GST tax exemption work? What's the exemption amount for 2026? Is this strategy only for very wealthy estates?
DR
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