Few things in life are more frustrating than losing socks in the wash and searching desperately around the house for a match or manufacturing one to the best of your abilities. Similar to the quest to find the perfect match for a lone sock, the struggle is real for trusts and estates practitioners who either inherit a client who’s used more gift tax exemption than generation-skipping transfer (GST) tax exemption or whose exemption becomes mismatched due to planning and gifting strategies and opportunities that have evolved as the client’s net worth and financial position have improved and transformed over a long and successful career.
LINKS
Read “How Mismatched GST and Gift Tax Exemptions are Like Lost Socks in the Wash,” co-authored by Brian G. Smith, Solange Etessami, and Brianna Johnson-King, published on wealthmanagement.com
Click the media link below to download the PDF.