The generation skipping trust tax (GSTT) trips up the plans of clients who wish to leave assets to their grandchildren. The GSTT is the IRS’s way of ensuring such gifts—as well as the grandparent’s estate—do not escape taxation.

One of the primary goals for establishing an estate plan is to ensure that your client’s assets ultimately transfer to their heirs and other intended parties. For individuals engaged in business or with sizeable wealth, an asset protection plan could be essential in reaching that goal. A carefully crafted plan can help clients preserve their tangible property and other assets from creditor threats.

As we discussed in our last couple posts, for your more harried clients, books about a better way to think about their role in their business, and timesaving applications that may be a huge boon to their work.