April 25, 2014 by generationsprobate
“A lot of things can ruin a family’s fortune, such as messy divorces, serious illnesses, and bad business decisions. A generation skipping trust shields that fortune from these events so that future generations can still benefit from it.
Of course, this type of trust is subject to special rules. For example, an inheritor can only receive $5.43 million tax free; if he or she gets more than that, the excess is subject to the highest estate taxes available. So before drafting this type of trust, consult first with an estate planning attorney in Sacramento, such as those from Generations.”