EST2503. The Basics of the Generation Skipping Tax

Enhance or refresh your knowledge of generation-skipping transfer tax basics with this problem-focused practical presentation. In addition to reviewing the applicable rules, this session focuses on the knowledge necessary to complete the GST section of a gift or estate tax return, and highlights the information necessary to make GST elections and sound decisions to best position the client for GST purposes. Specific topics include:
* Who is the transferor
* Gift splitting decisions
* Who is a skip person
* How to report gifts in trust
* Computing the inclusion ratio
* Qualifying for the GST annual exclusion
* GST-related elections
* Fixing GST problems

Learning Objectives:

• Learn the fundamental rules of the generation-skipping transfer tax
• Learn how to report a generation-skipping transfer on gift and estate tax returns
• Learn about GST elections and how and when to make them