generation-skipping

Above that $5 million, there's a 35% estate tax, as well a second extra layer of tax known as the generation-skipping transfer tax for bequests to grandkids whose parents are still alive.

New Heirs Face Confusing Tax Choice 2011

Above that $5 million, there's a 35% estate tax, as well a second extra layer of tax known as the generation-skipping transfer tax for bequests to grandkids whose parents are still alive.

Forbes.com: News Deborah L. Jacobs 2011

Dynasty trusts push that generation-skipping tax exemption to the max, putting the exempted amount beyond the reach of estate taxes for the life of the trust.

Dynasty Trusts Under Attack Laura Saunders 2011

Under the Tax Relief Act of 2010, the federal gift-tax exemption increases to $5 million from $1 million for individuals, as does the exemption for the generation-skipping tax.

Paying Grandkids' College Bill Kelly Greene 2011

A dynasty trust that transfers assets to family members over many years, or a generation-skipping trust that benefits grandchildren directly, can effectively be turned into a Crummey trust by adding withdrawal powers.

Crummey Trusts Still Smart, Say Advisers Arden Dale 2011

But if he does, the generation-skipping tax kicks in and replaces the lost taxes—except for an exempted amount, which is currently $5 million per individual or $10 million per married couple.

Dynasty Trusts Under Attack Laura Saunders 2011

Most important for people like Mr. Maggi, the recent changes align estate, gift and generation-skipping taxes, which are imposed when givers try to avoid layers of estate tax by leaving assets to heirs two or more generations removed.

The $5 Million Tax Break Anne Tergesen 2011

A married couple, for instance, can use their combined $10 million exemption to avoid federal gift and generation-skipping taxes.

Paying Grandkids' College Bill Kelly Greene 2011

If structured properly, such trusts can avoid estate or generation-skipping taxes.

The $5 Million Tax Break Anne Tergesen 2011

Dynasty trusts have gathered steam since the 1986 tax overhaul installed the current version of the "generation-skipping tax."

Dynasty Trusts Under Attack Laura Saunders 2011