Five Common GST Allocation Mistakes and How to Avoid Them.

Autor:	Warley, Carol G., Waldman, Amber, Ruffalo, Rachel
Předmět:	GRANTOR trusts ESTATE planning TAX consultants TRUST GIFT taxes GIFT giving ELECTRONIC filing of tax returns
Zdroj:	Probate & Property; Sep/Oct2024, Vol. 38 Issue 5, p46-50, 5p, 2 Color Photographs
Abstrakt:	The article discusses five common mistakes that individuals make when allocating their generation-skipping transfer tax (GSTT) exemption. The GSTT is a tax on large transfers of wealth to remote descendants, and the GST exemption can be used to shield assets from this tax. The mistakes include failing to account for automatic allocations of the GST exemption, overfunding a trust without considering prior transfers, neglecting to make an affirmative election for certain transfers, gifting to a spousal lifetime access trust (SLAT) without understanding the implications for GST exemption, and wasting the GST exemption by making distributions to non-skip persons from a GST-exempt trust. The article provides strategies to avoid these mistakes and emphasizes the importance of careful planning and understanding the rules surrounding the GSTT. [Extracted from the article]
Databáze:	Complementary Index
Externí odkaz:	Zobrazit plný text záznamu Plný text ve formátu HTML
Nepřihlášeným uživatelům se plný text nezobrazuje	K zobrazení výsledku je třeba se přihlásit.