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  • videocam On-Demand
  • signal_cellular_alt Beginner
  • card_travel Tax Law
  • schedule 60 minutes

Fundamentals of Generation-Skipping Transfer Taxation

Identifying Skip Persons, Direct vs. Indirect Skips, Exemption Allocations, and More

$147.00

This course is $0 with these passes:

CLE
ALL
PS
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Description

A significant challenge for tax advisers and compliance professionals is navigating the GST tax, which has the reputation of being one of the most complicated tax rules. However, the basic mechanics of the GST tax regime lie in identifying situations in which inter-generational transfers are designed to circumvent estate or gift tax liability.

Tax advisers serving high net worth individuals, as well as fiduciary compliance professionals, need to understand the fundamentals of the GST tax to avoid unnecessary tax cost.

A GST occurs when a person gifts or bequeaths property to a person who is two or more generations younger than the person transferring assets. The recipient of a GST is a "skip person." The GST tax is designed to prevent taxpayers from avoiding estate or gift taxes by imposing a flat tax on any gifts to skip persons more than the GST estate tax exemption amount.

There are two types of GSTs—direct skips and indirect skips. Tax advisers must be able to identify both kinds of transfers subject to the tax to calculate exemption amounts and accurately report GST on Form 709.

Listen as our experienced panel provides practical guidance on GST rules, allocating GST exemptions, and on the elections available to tax advisers and compliance professionals to minimize the impact of GST tax.

Presented By

Richard Ploss
Counsel
Porzio Bromberg & Newman P.C.

Mr. Ploss is a member of the firm's Trusts and Estates Department. He concentrates his practice primarily on estate planning for high net worth individuals and their businesses, estate administration, probate litigation and fiduciary income taxation in New Jersey and throughout the East Coast.  He has extensive experience advising individual clients in the areas of wealth transfer planning and the preparation of estate planning documents. He is a Certified Public Accountant (CPA) in the state of Georgia, a Certified Financial Planner (CFP) and a Professional Registered Trust and Estate Practitioner.  He frequently publishes articles and speaks on trust and estate matters and currently serves as an Adjunct Professor, teaching Trusts & Estates at the University of Maine Law School.  

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Credit Information

  • This 60-minute webinar is eligible in most states for 1.0 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, September 4, 2025

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

I. Overview of how GST tax fits into the wealth transfer tax regime

II. Defining the rules governing when a GST takes place

A. Identifying skip persons

B. Direct skip transactions

C. Indirect skip transactions

III. GST exemption and allocation rules

IV. Illustration of a basic skip transaction and how to report

The panel will discuss these and other important issues:

  • Identifying "skip persons" and gifts that qualify as GSTs
  • Direct skips vs. indirect skips
  • Guide to Form 709 for gifts that must be reported but do not incur GST tax
  • Calculating GST tax on taxable gifts