You are here: Home Planning Ahead Estate Planning Gift, Estate, and ... What Is The ...
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Gift, Estate, and Generation-Skipping Transfer Taxes

What Is The Generation-Skipping Transfer Tax (GSTT)?

Next » « Previous


The generation-skipping transfer tax is a federal tax that may be imposed on gifts you make to people who are two generations below you, such as to grandchildren. However, as with gift taxes, there is an annual exclusion per gift recipient per year and there are exclusions for medical and educational expenses you pay. 

Any GSTT you pay is also considered a gift, and may therefore be subject to gift tax as well! Plus, if you die within three years of paying the GSTT tax, the gift tax that you paid on account of the GSTT tax will be included in your estate and then possibly subject to estate taxes as well! 

There may also be state estate and gift taxes due.

For information, see:,-United-States-Estate-(and-Generation-Skipping-Transfer)-Tax-Return offsite link

Please share how this information is useful to you. 0 Comments


Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.