Читать книгу 2012 Estate Planning - Martin Inc. Shenkman - Страница 43

There are a number of methods to protect transfers that would otherwise be subject to GST tax from the tax.

•GST Annual Exclusion: Although the $13,000 annual gift tax exclusion is available for the GST tax, the requirements are different from those applicable for the gift tax. Thus, a transfer might qualify for the annual $13,000 gift tax exclusion but not for the GST tax exclusion. The $13,000 annual exclusion is only available for GST tax purposes on a direct skip transfer for only one skip person. This is a gift directly to a grandchild (or later generation), or in some instances to a trust for a grandchild. This exclusion doesn’t apply to a taxable termination or a taxable distribution.

•Transfers for Educational and Medical Benefits: An individual can gift an unlimited amount of money to pay for a grandchild’s qualified education or medical expenses. These gifts will not be subject to either gift or GST tax.

•GST Exemption: A lifetime exemption is allowed that permits an individual to transfer up to $5.12 million of cash, or other property, in 2012 to skip persons without triggering a GST tax. In 2013, the GST exemption is scheduled to decline to $1 million as inflation adjusted. This is at the heart of much of your 2012 planning.

PLANNING NOTE: The possible creation of a difference in the amount of (de-unification of) the estate and GST exemptions in 2013, if the law in fact reverts to the pre-2001 law, may require that your will or revocable trust be revised to permit a proper funding of the excess GST exemption amount (e.g., the inflation-adjusted GST exemption over the static $1 million estate exemption) otherwise that excess amount, which could grow in future years free of GST tax, could be wasted.

•Certain Transfers: Transfers that meet the following three requirements are also excluded from GST taxation: (1) the property transferred was previously subject to the GST tax; (2) the transferee (recipient) in that prior transfer was a member of the same generation as the current transferee; and (3) the transfer does not have the effect of avoiding the GST tax.