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Form 706GST Rev January Generation Skipping Transfer Tax Return for Terminations

Form 706GST Rev January Generation Skipping Transfer Tax Return for Terminations

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this video will help you understand the generation skipping transfer tax so more of your assets can go to grandkids or loved ones many generations are moved and less goes to the IRS if you don't know who I am my name is Chris dime I'm a certified financial planner out of Edmonds Washington and I specialize in working with folks two and through retirement as family wealth grows it's not uncommon that the first generation is going to look to pass down assets to the next and they might even be looking at a couple Generations removed in order to pass on assets to the grandkids for college or whatever could be the case first home Etc unfortunately for generations of sizable means if they are looking to pass down assets to Generation 3 or a couple Generations removed from them they might get hit with What's called the generation skipping transfer tax and so in today's video we'll break down what that tax is so ideally you can game plan around i

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