The Generation-Skipping Transfer Tax and Dynasty Trusts 2024

Monday, April 28, 2025

Webcast or Webinar, Online

11:00AM - 2:30 PM (opens at 10:30AM) EST

4Credits

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Course Type: Webcast

Course Code: 25/9124860

Level: Overview

Vendor: California CPA Education Foundation

Field of Study: Taxes

Overview:

Transfer taxes, such as the estate and gift tax, create a drag on the accumulation of wealth over a family's generations. The government promulgated the generation-skipping transfer (GST) tax to discourage avoidance of the estate and gift tax by families. Randy Gardner explores: GST tax terminology, how the GST tax is calculated, ways to avoid the GST tax, and how to design a dynasty trust to pass property from generation to generation.

Objectives:

• Determine how the GST tax is calculated and how it relates to the estate and gift tax • Recognize language in estate planning documents that warrants allocation of the GST tax exemption and making the Reverse QTIP election• Identify opportunities to establish Dynasty Trusts to possibly avoid transfer taxes for generations to come

Major Topics:

• Calculation of the GST tax, and how it relates to the estate tax and gift tax • Direct skips, taxable distributions, and taxable terminations • GST tax allocations, Reverse QTIP election, and Exempt and Nonexempt Trusts • Calculating the benefit of and designing Dynasty Trusts

Major Topics:

Designed For:

CPAs, attorneys, bankers, financial professionals, insurance professionals, enrolled agents and professional staff.

Prerequisites:

An understanding of estate and gift tax principles