Estate Planning & Corporate Attorney Joseph Boyles, Esq.

  When it comes to planning for the financial well-being of future generations, understanding your options is essential. One such option, the Generation-Skipping Trust, is often overlooked, but it offers a unique way to protect your assets for your grandchildren and beyond. Top Tips for Generation-Skipping Trusts: Ideal for preserving family wealth across generations. Avoids multiple estate tax impositions. Can be used in conjunction with life insurance. Essential for individuals with significant assets. Requires careful drafting and administration. Allows for flexibility in distribution. May be subject to the Generation-Skipping Transfer Tax. Detailed Information on Generation-Skipping Trusts Basics and Purpose of Generation-Skipping Trusts: Generation-Skipping Trusts (GSTs) are specially designed to transfer wealth to a person's grandchildren or more remote descendants. By doing so, the wealth bypasses ...