MACPA Series | Dynasty Trusts and Generation-Skipping Transfer Taxes -- What every CPA needs to know

Some clients are beneficiaries of trusts created by their parents or other relatives. Learn which of these trusts will have a generation-skipping transfer tax when the beneficiary dies and what actions you can recommend to minimize or eliminate any future GST tax. Other clients may want to provide, in their estate plan, how to leave assets in trust for multiple generations. Join Frost Law Partner, Gary Altman, Esq., on June 7th from 3:00 pm - 5:00 pm EST to learn the power of a dynasty trust and how it can save millions of dollars of future estate taxes, and maybe even income taxes.

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Gary Altman, Esq., plans to discuss the following topics:

• What is a GST Trust, Dynasty Trust, Indirect Skip What is the GST Tax and in which situations does it apply?
• What is the automatic allocation of GST exemption When is a trust a GST Trust and when should you opt out of the automatic allocation rules?
• How to avoid a GST Tax for existing irrevocable trusts and new irrevocable trusts How to complete Form 709 when a client makes a gift to an irrevocable trust How to complete Form 706, Schedule R
• How to complete Form 709 when a client makes a gift to an irrevocable trust
• How to complete Form 706, Schedule R