Conference Materials


Breakout Sessions - Generation Skipping Tax

Wednesday, May 8, 2019 1:15 PM - 2:15 PM


Daniel Smith Speaker Bio

Session Description

In this session, Fran DeMaris will provide a discussion of the Generation-Skipping Transfer Tax Rules and Regulations. This complex area of taxation is not covered in Cannon’s Certification Program but is a useful tool for professionals in Trust Au-dit, Compliance and Risk Management. Knowing that the new $11.4 Million Exemption Equivalent has clearly augmented the number of 706s required to bled, there remain a number of our most wealthy clients that will indeed continue to be under its penalizing nature. Understand that Generation-Skipping Transfer Tax is never charged alone, but is always in addition to Gift or Estate Tax payment. Distinguishing when it applies, as well as how it is charged can clarify some of its most compelling issues. The proper use of gift planning, the ability to discount valuations in gifting, the complexities of narrative language in documents and their interpretation, and the effect of Portability as a permanent feature of the law, are all issues of importance in this discussion. Join Fran for this up-to-date and meaningful dialogue.