Webinar: Why You Should Care About GST Tax
May 15 and 23, 1:00 PM ET/10:00 AM PT
CLICK HERE TO REGISTER for either the May 15 or May 23 webinar
The current estate, gift, and generation-skipping transfer tax exemption has reached a record high of $13,610,000 per U.S. citizen or resident, and will be even higher in 2025. While this amount could potentially sunset by one-half in 2026 (after inflation adjustments in 2025 and 2026), it is rare for clients - and their advisors - to deal with potential transfer tax liability for current-day transfers.
Yet, one form of transfer tax looms in the background that is often deferred from times of prior transfers (usually at lower exemptions) - the generation-skipping transfer tax. This tax can often apply in hidden ways to trusts, and records of prior allocations of GST exemptions (or even exclusions from GST tax) are often incomplete or missing. Powers created under these trusts could also add to the taxable estates of individual beneficiaries.
If you work with trustees or beneficiaries, fundamental knowledge of GST tax is essential. And, if you are not yet working with trustees or beneficiaries, you probably will at some point in the near future.
Is There a Fee to Register and Attend?
No.
Who Should (or Should Not) Attend?
This webinar is designed for attorneys, CPAs, professional trustees, wealth advisors, valuation experts, and other professionals who assist with transfers of wealth - especially to trusts.
BUT, THIS IS NOT A PROGRAM FOR INDIVIDUALS OR FAMILIES SEEKING ASSISTANCE WITH GST TAX ISSUES. This presentation is provided for educational purposes only and is not intended to substitute for legal or tax advice.
While no CLE, CPE, or CE credit will be offered, it may be possible to apply for self-study credit in certain jurisdictions or for certain certifications. If you wish to do so, please let me know and I will provide the materials necessary upon specific request.
Must I Subscribe to Your Newsletter to Attend?
No. But, as noted below, only paid subscribers will have access to the recordings and slides after the fact.
What is the Format?
I have one hour allotted. Instead of delineating the presentation and Q&A time, I am asking for questions to be submitted in advance. This allows me to integrate and address questions in the webinar itself. If time permits, questions will be specifically answered at the end as well.
To submit questions, the registration form above has a box for this purpose. The earlier you register, the more likely your question is addressed.
How Is This Different From Your Prior GST Tax Content?
I have created several hours of videos on the fundamentals of GST tax, which you can find here. I am working on a refresh for some of these videos, especially as relates to Crummey powers and the ETIP reporting rules.
These rules and videos largely deal with avoiding GST tax for current-day transfers. But, as noted above, prior transfers often carry deferred and unexpected GST tax. Knowing how to calculate and report possible GST tax consequences for trusts is becoming increasingly important.
That being said, some foundational knowledge of GST tax may be helpful as I will only have about 5 minutes to set the stage. (As noted by a reader, “I don’t need more material on identifying a skip person. I need to know the deeper stuff.”) The videos linked above can help you with some of the foundational terms.
What If I Cannot Attend on the Dates/Times Provided?
I apologize if the dates and times do not work for you. I do my best to find the times that work best for a national audience. Depending on demand and feedback, I may conduct this webinar in the future. As for the May 15 and 23 webinar dates, paid subscribers will have access to the recording and slides after the fact.
This Topic Does Not Appeal to Me. Will You Present Other Topics?
Absolutely. Stay tuned for more.