Generation-skipping transfer (GST) tax planning presents unique challenges that require careful drafting, thoughtful exemption allocation, and a thorough understanding of the tax rules governing multigenerational wealth transfers. Even well-intentioned estate plans can produce unexpected GST tax consequences if exemption allocations are overlooked or trust provisions are not properly structured.

This CLE course provides a practical examination of advanced GST planning techniques, and the issues practitioners commonly encounter when creating, administering, or modifying trusts. Participants will review strategies for allocating GST exemption, addressing estate tax inclusion period (ETIP) concerns, utilizing retroactive and formula allocations, and obtaining relief for allocation errors.

The program will also discuss qualified severances, GST considerations in trust decanting's and modifications, and drafting approaches designed to preserve transfer tax benefits while minimizing exposure to common planning risks.